Virtual Data Rooms (VDRs) are highly secured online platforms that enable the seamless sharing confidential documents and other important business information with third-party parties during the process of making deals. They’re a safer choice than sending sensitive information via email, which could expose you to legal risk.

Most of the time, the most secure virtual rooms are ISO27001-compliant and come with a variety security features, such as two-factor authentication and active watermarking. They also have access restrictions dependent on IP address and expiry time. Some virtual data rooms have 24/7 support. A reputable provider will also offer flexible deployment options like cloud-based or on-premise and be easy to use and user friendly.

There are a myriad of top VDR portals on the market, choosing the most suitable one for your needs depends on the goal you’re aiming to achieve. Certain VDR vendors customize their applications to particular industry verticals while others provide a general-purpose platform which can be customized with workflow templates. Finding a VDR that is both cost-effective and meets your needs is the most important aspect. An excellent place to start is to read reviews (with taking a pinch of salt) and contacting the service providers directly to find out how responsive they are. A lot of them will offer an initial trial period for free to help you determine whether they’re the right choice for your company.

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