A virtual dataroom (VDR) is a secure way for businesses to share documents with third-parties. These are often used during due diligence in any business transaction, but they can also be utilized to store a large quantity of documents from the company to be used by internal teams.

When choosing the right VDR, it is crucial to think about the storage capacity and features that are required for your specific project. A calculator on the vendor’s website can help determine the amount of storage space is needed. Text documents require less space than high-res pictures or technical drawings.

Online data rooms are a great option to support our current world of work

Online data rooms are typically utilized in M&A transactions, but they can be used for other purposes. For example Life science companies usually need to share confidential documentation with potential investors. This can include details about patents and product development as well as financial performance. This kind of sharing takes time and requires an enormous amount of effort. It is essential to safeguard the information with strong security features.

The top VDRs provide enterprise-grade handles to guard sensitive files against unauthorised access. They also allow users to create access accord for very sensitive files and use watermarks to prevent unauthorized file site sharing and document alteration. Some vendors also provide 24/7 customer service and have experts on staff who can answer your questions or provide assistance with any other aspect of the VDR program.