A virtual data room (VDR) is a safe storage and sharing space for sensitive information. It is typically used for M&A due diligence, however it’s also accessible for other business reasons like raising funds or selling an asset.

When you select a VDR for your project, ensure it is user-friendly and easy to navigate. Streamline collaboration with features like real-time annotation and commenting. This helps keep projects moving. It is also recommended to find a VDR with built-in version control tools for analyzing and vetting documents during due diligence.

VDR security is essential particularly with the increase of hacking incidents. A reputable VDR will have extensive security measures for enterprise files, including access-only view to your files, granular permissions, dynamic watermarking and more. They will also have a multi-faceted approach to security that includes physical security – redundant servers and continuous monitoring and application security encryption methods as well as audit trails for users, user authentication and more.

The best VDRs provide a straightforward pricing model that’s comparable to other services that you utilize, like internet and cell phone plans. You should look for either a monthly or annual cost, with additional fees that are based on the usage. This will help avoid unexpected costs and overage charges. Also, look for a solution pop over to proteored main page with restore and backup features, so that your data is protected in the event of a disaster.