Business entrepreneurs have always been concerned about storing their data securely, and with the advent of digitalization, this problem has not been solved. However, there are still some spaces that can meet the needs of companies. Virtual data rooms are secure spaces for storing and sharing sensitive documents, but not all VDR providers offer the same terms. In addition, the functionality of these platforms can vary depending on the quality of service, security certifications, and price. This article will look at which virtual room is considered the best and what features you’ll need.
Virtual data rooms should help simplify your document management routine. VDRs have a centralized space to use documents in one place conveniently, and the best providers should have the following in their arsenal of features:
- Document drag-and-drop or bulk loading -allows any volume of documents to be loaded in one go, quickly and efficiently
Integration-through space integration, VDRs can better adapt to your browser or operating system to provide a better user experience
Smart search – effectively find any document using a keyword, or multiple words
Any format support – so you don’t waste time converting documents before downloading, VDRs should support multiple document types
Labels-categorize documents and organize them logically to make the search process more efficient
Security is what customers expect most from a VDR program. However, while security should be a vital point of the platform, some programs may not meet today’s security standards and neglect certain features. So, VDRs should provide these security features:
- Security certifications- You can be confident in the security of the VDR provider if it uses security certifications such as SOC 1, SOC 2, ISO 27001, HIPAA, etc.
- 256-bit data encryption – ensures secure data exchange and storage
- Watermarks -Protect copyrights and prevent data leakage
- Viewer Restrictions – All or some access to your documents can be restricted to all or parts of the user
- Collaboration permissions – allows you to regulate the ability of other users to interact with the document. Prohibit copying, printing, uploading, and forwarding
- Two Factor Authentication – Protects your password against hacking
VDRs can offer a host of other additional security measures, but the above features are the most important.
VDRs are not just about secure storage; and they are also aimed at solving a multitude of business problems. That’s why they should be simple and easy to use and provide the following features:
- No plug-ins – makes it easy to use the program and does not require any additional installations
- Mobile interface – providing access to the system through a mobile operating system will allow users to enter the space at any time and at any place
- Multilingual format – not only makes the space demanded by a wider audience but also gives your partners (if they are from another country) more comfortable terms of cooperation
Reports and analytics
The best virtual data room does everything to reduce the risk of human error and increase control over actions in the space. Features such as:
- Group reports – show the number of active users as well as the number of documents viewed
- Colorful reports – show administrators’ levels of activity in the space over some time
- User activity monitoring -you will see the detailed actions of each user, what actions were performed from documents, time of entry and exit, both from the document and from the space itself