A virtual data room (VDR) is an online repository for sharing files safely and rapidly. It is distinct from traditional document sharing platforms because it allows multiple users to access the platform at the same time and includes features like precise tracking of activity. It’s designed to handle many different types and sizes of files. This makes it perfect for legal transactions, M&As and fundraising.
The best VDR providers offer a user-friendly interface and meet security and compliance standards. They also offer a range of features to help companies perform more efficiently. They also allow you to keep track of your activities and to add watermarks. In addition, they offer electronic signatures and encryption. Some of them also support different operating systems.
When selecting a VDR provider, it’s important to understand the needs and goals of your business. For example, a start-up, is likely to need a platform that is easy to use, with a brief learning curve and a 24-hour support team. A M&A company may need a VDR capable of handling huge volumes of data.
The top VDR providers have a variety of pricing plans to meet different budgets and business models. For instance, some offer pricing per page, while others charge based on the size of the storage. A few also offer an annual fee that covers unlimited pages as well as a set number of users. Some also offer free trials to allow prospective customers to try the software before making a purchase.