If you’re an investment banking professional advising clients or a company that is sharing sensitive documents beyond the firewall, there are plenty of aspects to consider when selecting a virtual data room (VDR). A VDR review is a procedure utilized by companies and organizations to assess multiple VDR providers based on price and attribute-based support. This enables organizations and establishments to find the most suitable VDR provider for their specific requirements. This can save you time, money and the hassle of dealing with a shoddy VDR provider.

A VDR can provide a secure method for companies to share data online without the risks of email leaks or faxes. This is especially useful in transactions with a high degree of complexity, such as M&A where multiple parties require to have access to confidential information simultaneously. A VDR also simplifies due diligence processes and gives an audit trail for each file.

Additionally, certain VDRs include built-in versions control tools to help ensure that only the latest and most accurate version is being displayed. This will help avoid misunderstandings and duplicate work. A good VDR will also provide collaboration features, such as document annotations, Q&A sections and the ability to assign tasks.

Given the sheer number of VDR vendors on the market it is essential to look over each before deciding on one. Look for features such as the ability to set up various levels of user permissions or dashboards that can be customized, as well as detailed activity logs. You should also check out the options for customer support offered by the VDR provider, including chat in-app, phone and email support in a variety of languages as well as multilingual support.