No matter what industry you are in, you’ll have to deal a large volume of various documents. Managing these documents via physical files is inefficient and time-consuming. It takes longer to read printed documents and you’re more susceptible to unauthorised access. A virtual dataroom (VDR) allows authorized individuals to access and view documents remotely. It improves collaboration between teams across the globe and eliminates geographical barriers. It also reduces the risk of unauthorized access and allows strong compliance measures.
When selecting a VDR choose one with advanced features designed to meet the specific needs of your business. You’ll want a provider that offers drag-and-drop and bulk upload capabilities and can support a variety of formats for files. Look for a virtual area with a sophisticated search tool that can find and index the text contained in files.
VDRs are able to automate workflows and processes like giving permission to users based on their function. They also track documents that are accessed by authorized users. This includes when and how often they were downloaded or viewed.
You should search for an online provider that provides mobile apps that work across all platforms without needing any additional software or plugins. Consider a provider that offers multilingual support to accommodate users with different nationalities and ethnicities. Finally, ensure that your VDR has audit trails that record every action performed by every user who uses the virtual data room, such as the time they logged in and out of the platform, which documents they downloaded or browsed and their IP address.