For the majority of businesses, a virtual data room is an essential tool to facilitate any business transaction. The right VDR solution could mean the difference between an efficiently simplified process and one that’s cumbersome and compromises deal success.

A reliable virtual data room provider can customize features to further protect sensitive data. They include strong physical security measures, such as offsite backups of data and fire protection along with other physical security measures. These features include encryption of data both in transit and at rest, dynamic watermarks placed on each page of any document that is printed or viewed, and granular permissions for users that let administrators restrict who can access or download documents.

A virtual data room also offers the advantage of providing an easy way to save and share sensitive information. This greatly reduces the amount of time spent sending documents around, and makes it much easier to access documents for due diligence, project collaboration or for other business-related activities.

A good virtual data room can provide an audit trail of all documents and user activity. This is a vital aspect for companies that operate in highly regulated sectors like finance or healthcare where compliance is crucial. In the event of an investigation or audit it is important to know the date and time of access to data can help maintain compliance.

In a recent case, an important pharmaceutical company made use of the virtual data room to facilitate a complex merger with another industry giant. The VDR’s streamlined communication and increased security of data allowed parties to reach an agreement quickly.