Whatever industry you work in, you’ll need to deal with large volumes of various documents. Managing these documents via physical files is unproductive and time-consuming. Reviewing printed documents takes longer and leaves you more vulnerable to unauthorised access. A virtual dataroom (VDR) allows authorized individuals to view and access documents remotely. It improves collaboration between teams across the globe and eliminates geographic barriers. It also reduces risk of unauthorized entry and enables strong compliance measures.
When selecting a VDR, look for one that has advanced features that are specifically designed to meet the requirements of your business. You’ll want a provider that provides drag-and-drop as well as bulk upload capabilities and can support various formats for files. Look for a virtual area with a sophisticated search engine that can identify and index the text contained in files.
VDRs can automate workflows processes, workflows and processes in-process. For example they can grant permissions according to the user’s role. They can also track the documents that are accessed by authorized users. This includes the time and frequency they were viewed or downloaded.
Find a service that offers mobile apps that work on all platforms and don’t require plugins or other software to be installed. Look for a service that provides multilingual support in order to accommodate users from different nationalities and ethnicities. Finally, ensure that your VDR has audit trails that record every action performed by each user in the virtual data space, including the date and time they entered and left the platform, which documents they downloaded or browsed, and their IP address.