When businesses work with other companies in business transactions and litigation, they often need to share confidential documents that are not within their firewall. Virtual Data Rooms (VDRs) are online repositories for storing and sharing digital files in a secure manner. VDRs have become an established solution for supporting complicated business processes and projects that require the disclosure of sensitive financial documents, intellectual property data, case file information and more.
When selecting a VDR make sure you choose one that comes with strong security features that go above and beyond the standard compliance requirements. You should look for permissions that can be customized and watermarking capabilities, the capability to block access remotely and a detailed activity tracker that gives administrators granular insight into the way that files are being viewed, downloaded, printed, or saved. Look for an interface that is simple to navigate and designed to facilitate collaboration without compromising security.
Find out about the technical assistance offered by the VDR partner and whether they are familiar with the specifics of your industry. The top-of-the-line providers provide 24/7 support via multiple channels to ensure that every query is answered quickly. Consider a tool for Q&A that allows users to ask questions without having to resort to email, and allows administrators to manage and organize questions.
Ask about specific performance and reliability statistics. Ask about uptime, interruptions and delays to evaluate the reliability of a particular vendor with other similar products. Also, ask the potential partner how their platform is integrated with the other tools in your organization’s technology stack.