VDR software lets companies share confidential documents externally with people like prospective investors or clients. This is particularly useful for the legal sector, where a lot of procedures require sensitive document sharing. Whether it’s an M&A due diligence process or fundraising, a virtual data room streamlines the process and ensures that crucial information doesn’t get shared with untrusted parties.

In addition, the ability to integrate VDR with existing business applications allows parties to collaborate on projects. As an example the integration with Asana allows users to link tasks within Asana to relevant documents stored on VDR. This makes it easier for team members and project managers to keep track of their progress and keep track of their obligations.

Find a platform which offers features that will meet your needs. A VDR must be secure with anti-virus and malware scanning, multifactor identification and advanced encryption. Ideally, it should have an audit log that tracks all user and document activities, and the ability to analyze the details. It’s also worth checking if a VDR partner has certifications from third parties, such as SOC, to ensure you have confidence that the platform meets industry-leading security standards.

Another essential feature is a clean, intuitive interface that’s as user-friendly to the CFO as it is for an beginning accountant. Choose a provider that is able to meet this with a simple configuration and a variety of deployment options. Find out if your VDR can be customized with your Secure Data Rooms logo, terms and condition and general layout.