A virtual dataroom (VDR) is an online repository on the internet which allows documents to be shared quickly and easily. Contrary to traditional document sharing platforms it can be used by multiple users at the same time and provides features such as granular activity tracking. It is also designed to support a wide range of types and sizes of files. This makes it perfect for legal transactions, M&As, and fundraising.
The top VDR providers offer a user-friendly interface and meet security and compliance standards. They also offer a vast array of functions that allow companies to work more efficiently and effectively. These include the ability to add watermarks to documents, and also track the activities. They also offer e-signatures and encryption. Some of them also support different operating systems.
When selecting a VDR provider, it is essential to consider your company’s requirements and goals. A startup, for example, is likely to need an easy platform to use, with a brief learning curve and a 24-hour support team. On the other side, an M&A company may require a VDR that is able to handle large amounts of data.
The best VDRs come with various pricing structures that can be adapted to different business models and budgets. Some, for instance, have a per-page structure while others cost based on size of storage. Some companies charge a flat-rate monthly fee, which includes unlimited users and unlimited pages. Some also offer free trials to allow prospective customers to test the software prior to making a purchase.