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A virtual data room can be used by a company to share confidential documents with other parties. This can occur in a variety of situations, including due diligence during mergers and acquisitions, as well as when seeking funding from private investors, restructuring, or in bankruptcy. Whatever the scenario is, the documents must be secured and easy to navigate, manage and available at any moment.

A VDR with access to documents with granular permissions helps ensure that the right individuals have access to the correct files, at the right time. Implementing specific access policies for documents and folders minimizes the chance of human error like accidental deletions, and oversharing. A reliable virtual dataroom also has other security measures to protect information. These include the encryption of documents that are at rest, digital waterstamping siloing in private cloud servers, two-factor authentication, accident redemption and many more.

A good VDR should also offer robust user support. A lot of VDR users interact with stakeholders across the United States or around the world. The work often doesn’t end when the clock hits 5pm on the West Coast. A good VDR provider will offer 24/7 support and will be able to assist in any way that is possible particularly with regards to the technical aspects of using and managing the platform. Asking questions about customer service as well as security features will help you decide whether an VDR is right for you. This will help you find the right VDR that will meet your company’s requirements and will result in an effortless, easy process.