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Companies often have to share confidential information with other businesses when they work together in litigation or business transactions. Virtual Data Rooms (VDRs) are online repositories that can be used for storing and sharing digital files securely. VDRs have become a standard solution for supporting complex projects and business processes which require disclosure of sensitive financial documentation and intellectual property information, case file data and much more.

When choosing a VDR be sure to choose one that comes with strong security features that go above and beyond the standard compliance requirements. Look for permissions that are customizable including watermarking, the possibility of rescinding access remotely and a detailed activity tracker that provides administrators with detailed insights into the way files are viewed, downloaded, printed, or saved. Look for a user interface that is easy to navigate and designed to foster collaboration without compromising security.

Ask about the technical support provided by the VDR partner and whether the team is knowledgeable about the specifics of your industry. The best providers offer 24/7 support via various channels, making sure that every question is addressed quickly. Look for a Q&A tool that allows users to send questions directly to email. It also enables administrators to manage and organize questions.

While many VDR providers boast of their ability to scale, make sure to inquire about specific performance and reliability data. Ask about uptime, interruptions, and delays to compare the reliability of a particular vendor against other similar products. Ask the potential partner if their platform integrates well with other tools on the tech stack of your organization.