VDR software lets companies share confidential business information securely with external parties, including lawyers, compliance auditors, and trusted advisors. VDR software, unlike other file sharing tools is designed to safeguard sensitive business information and ensure that no one alters or delete the contents of shared documents. This makes VDR software ideal for M&A due-diligence, but also in any situation where sensitive data needs to be shared with other parties, like investors, service providers, or other interested parties.

When evaluating a room online, look for these features:

Security: VDRs are made to provide an environment that is secure enough to be able to withstand malware attacks, hacks and other forms of malicious behavior. Look for a provider that provides ISO certified security measures such as encryption and backups. In addition, a VDR should allow users to ShareFile VDR Software define access levels for various groups of people and change these privileges quickly if mood changes during discussions.

Document Management: A quality VDR will make it easy to upload documents and arrange them into meaningful categories, with search functions that detect partial or exact matches and pinpoint specific folders. A VDR should also include advanced functions, such as OCR, optical character recognition for PDFs as well as images, and filters that make it easier to narrow search results.

Collaboration and Communication: Check for a VDR that includes built-in discussion capabilities such as a chat function that allows teams to collaborate, and a messaging capabilities that break down communication gaps. Additionally to that, a VDR should include an API that could be used to connect it with other systems.