Whatever field that you are working in, you will have to manage a lot of different documents. The management of these documents using physical files is inefficient and time-consuming. Examining printed documents takes longer and leaves you more vulnerable to an unauthorized access. A virtual data room (VDR) is a secure cloud-based document storage system that permits authorized individuals to review and collate documents remotely. It helps improve collaboration between teams across the globe and removes geographical barriers. It also reduces risk of unauthorized entry and enables strong compliance measures.

When selecting a VDR select one with advanced features that can meet the specific needs of your company. You’ll want a vendor with drag-and drop and bulk upload capabilities and can accommodate various formats of files. Find a virtual room that has an advanced search tool that can detect and index the text contained in files.

VDRs are able to automate workflows and processes, including the granting of permissions to users based on their function. Additionally, they can keep track of every document that is accessed by authorized users, revealing when and how many times the document was downloaded or viewed.

You should look for an organization that offers mobile apps which work on all platforms, without any additional software or plugins. You should also look for a provider that has multilingual support in order to meet the needs of users of different ethnic backgrounds and nationalities. Make sure that your VDR provides audit trails to keep track of every action made by every user within the virtual data room including the time they logged into and exited the platform, the type of documents they downloaded or viewed and their IP address.