A virtual data room (VDR) is an online repository for secure sharing of digital documents. VDRs are cloud-based storage that is paired with security to allow users to access shared data via any internet-connected device at any time. In the end, VDRs allow businesses to share data more easily and safely than traditional physical data rooms or digital sharing methods.

Modern virtual data rooms have many security options for documents, which allow specific control of who can access, print or save a file. It should also have a search feature that can locate information within documents and files, including PDFs, and provide intelligent results. It should also include document processing capabilities to convert handwritten text, paper documents, and text stored in images into digitally-readable formats. It is required to track and record user activity all the way to the page level and provide a thorough audit trail for compliance purposes and to be used in disputes.

Because a large portion of users will be new to the platform, it’s vital that the VDR provider provides extensive user onboarding and training sessions. This could be done through videos, webinars, or other interactive online sessions. It is also essential that a VDR allows seamless integration with popular productivity tools such as communication platforms and document editing software. This will allow for better navigation and more efficient collaboration. It should also be compatible with mobile devices as well as platforms that cross-platform to make it easier for remote users to collaborate.

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