If you’re looking for the top virtual data room reviews, you should look for providers that offer many features. There are numerous security features, including two-factor authentication and session timeouts. Users can have granular access rights as well as security for documents (view only mode, watermarking and screen-blocking) and advanced redaction tools can be found. The best VDRs also come with customizable interfaces and advanced reporting capabilities. They can be accessed via different operating systems and mobile phones.

Virtual deal rooms are a multi-purpose tool that can be used by companies of all industries. However, some industries are heavier users of VDRs than others. Telecommunications and IT companies typically are involved in complicated M&A deals and require an area to store their documents throughout the M&A process. Life science and healthcare firms have a higher risk of espionage from competitors and require secure storage for their research, patient records, clinical discoveries, and other sensitive documents. Fundraising is a different benefit of virtual data rooms as it streamlines the due diligence process by allowing investors to access all the information needed about your business from one central location.

Compare VDRs according to the total cost of ownership. This includes hardware, subscriptions and support. You can also search for a demo or trial version to try the software out before you commit. Remember my latest blog post to read reviews from third-party sources and reviews to get an objective review of a vendor.