Virtual Data Room Features

A virtual dataroom offers secure sharing of documents. It could also be an archive that can be used for long-term storage, and it lets users collaborate on documents in a single session. It provides a variety of security options, including password protection audit logs, control of file versions.

Companies that are involved in M&A due diligence usually use VDR. This can involve sharing a lot of sensitive information with the other party, and it is essential to know who has accessed what data and when. A VDR with a robust retention and management system can protect against data breaches, and it can quickly remove access to individuals who are no longer required to have access to it.

A robust search engine is an additional feature. It is able to locate data in large documents and show snippets of these documents when displaying the results of a search. This allows users to quickly identify and choose the correct files to open. Document annotations allow multiple users to add notes and other comments to the same document. This makes it easy to share these annotations with other users.

A useful feature is to quickly redact an image, paragraph or section from the document to ensure that confidential information won’t be visible to anyone who doesn’t need to view it. VDRs also permit automatic watermarks to display virtual data room features the user’s name, IP address and date/time when a document was viewed or downloaded. This is especially useful for those who must adhere to regulatory requirements such as HIPAA or GDPR.