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What Is a Virtual Data Room?

Virtual data rooms (VDRs) are online storage spaces that permit the secure exchange of digital documents. VDRs combine the convenience cloud storage with security features that allow individuals to access shared data from any device on the internet at anytime. In the end, VDRs enable companies to share their data more easily and securely than traditional data rooms or physical digital sharing methods.

Modern virtual data rooms offer a variety of security features for documents that permit specific control of who can access and print or save a document. It should also offer the ability to search and locate information in various documents and files – such as PDFs – and deliver intelligent results. It should also have document processing capabilities to convert handwritten text, paper documents, and documents saved in images to a digitally readable format. It should be able track and record user actions from page-level to providing a comprehensive audit for compliance purposes or for use in disputes.

It’s crucial that VDR providers offer an extensive onboarding and training program for their customers, since a large portion are new to the platform. This could be accomplished by videos, webinars, online tutorials or other interactive sessions. It is also essential that a VDR permits seamless integration with popular productivity tools, such as communication platforms and applications for editing documents. This will enhance navigation and collaboration. It should also offer advanced cross-platform and mobile compatibility to allow users to work remotely.