A virtual data room (VDR) is an online repository that allows for the secure sharing of digital documents. VDRs are cloud-based storage that is paired with security to let users access shared data from any online device, at any moment. VDRs allow companies to share data more conveniently and securely compared to physical data rooms or other methods for sharing data digitally.
A modern virtual data space provides a variety of security features specific to documents that give you complete control over who can print, save or view the particular document. It should also offer an ability to search that will find information in various files and documents – including PDFs – and give intelligent results. It should also come with document processing capabilities that can convert handwritten text, paper documents, and text stored in images into a digitally readable format. It should be able to track and record user activity down to the page level and provide a complete audit trail for purposes of compliance as well as in case of disputes.
Since many users are new to the platform, it’s essential that the VDR provider provides extensive user onboarding and training sessions. This could be accomplished via online video tutorials, webinars or other interactive training sessions. It’s also crucial that the VDR allows seamless integration with popular productivity tools like project management software, communication platforms, and document editing applications. This will enhance navigation and collaboration. It should also offer advanced mobile and cross-platform compatibility to make it easier for users to work remotely.