A virtual data room (VDR) provides an encrypted platform for managing private information, including mergers and acquisitions activity due diligence contract negotiations, as well as other business deals. It allows collaboration between many parties operating in different time zones and permits the creation of custom indexes and templates to streamline document organization. It comes with advanced security features like the ability to change versions, a Q&A feature and more. Its Team Plans begin at $149 per month and come with unlimited storage.
Find a service that offers transparent pricing, which explains what features are included in the plans and which are optional features. Be aware of the limitations on sharing documents and if there are any additional fees for exceeding the limit. Lastly, check for an intuitive interface that is easy to learn and use even for non-technical users.
Some companies offer unique security features to safeguard documents, including screen shields to deter screenshots and tripwire notifications for leaks in documents. Other useful tools include dynamic watermarking of files, enforcing customized terms to view files and limiting printing and downloading.
Look for a provider that has experience in the field and experience in successful projects with similar companies to yours. This will ensure that the company is able to meet your requirements in terms of integration capabilities and features. A company with expertise in your field will also be aware of any regulatory compliance issues that might affect your business.