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Virtual Data Room Software is an online safe space that allows for the uploading, storing, and management of time-sensitive files. Due diligence is typically utilized to facilitate M&As capital raises, and audits. For companies operating in the life science and technology sector, VDRs are particularly important to store research results, clinical trial data and other information that is proprietary.

Finding the right VDR to meet your specific requirements will take more than going through a vendor’s listing of features and functions. You should also take into consideration reviews of employees and customer reviews on third-party sites like Trustpilot and Glassdoor. It is important to select a service provider that has been operating for a while and has a strong base of reviews.

Find a simple, user-friendly interface that allows you to upload and find files. It’s also beneficial if a VDR has a wide range of formats for files, is compatible with multiple languages and provides a range of collaboration tools.

Check that the VDR you choose has comprehensive security features. It should, at a minimum, provide two-factor authentication and password protection as well as IP address-based access restrictions. It should also permit the use of granular sharing and document watermarking. In addition, it should provide advanced reporting that allows users to track their activities down to individual file views and downloads.

Then, you should look for a VDR that lets you customize its appearance and function to suit your company’s brand. FileCloud for instance allows you to add your company’s logo on the email and login templates as well as set permissions for the partner account.

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