Companies that are involved in due diligence, M&A or other transactions need to be able share sensitive data in a secure way. The top virtual data room providers make this possible by providing an encrypted platform which can be accessed at any informative post time of the day on any device. They permit easy collaboration between parties and have a dedicated team of support personnel ready to assist with any issue.

In addition to document storage, collaboration tools, and electronic signature integration, a great VDR should offer advanced analytics and reports. This allows stakeholders to monitor the levels of engagement and activity in real-time. This improves transparency during a due diligence procedure and help managers identify security dangers.

The top virtual datarooms are simple to manage and set up, and also offer numerous features that cater to different sectors and project needs. For instance, FirmRoom offers bank-grade security with a simple user interface for easy document management and collaboration. It also offers robust redlining and editing features to speed up deal process. Other features include two-factor authentication, session timeouts and location restrictions.

Other features specific to industry include compliance reporting and a searchable document repository as well as secure file sharing. These features can help ensure that companies are complying with the regulations and ensuring that their privacy policies are in place. Additionally, it’s recommended to choose a vendor that provides flat-rate pricing options that can be either monthly or annual. This will save businesses money as opposed to traditional pricing models that cost per page.