A virtual dataroom is a safe platform for sharing documents. It can be used as an archive for long-term storage and also lets users collaborate on documents simultaneously. It comes with a range of security features, including password protection audit logs, the control of version control for files.
Companies go to this site that are involved in M&A due diligence usually use VDR. It is essential to know who has accessed sensitive data and when. A VDR that has a robust management system and retention policy will protect against data breaches and quickly revoke access of those who no longer need it.
A robust search engine is an additional feature. It can locate information in large documents and display snippets from these documents when displaying search results. This makes it easier for users to quickly recognize and select the right files to open. Another feature is a document annotation feature that lets multiple users add comments and notes to the same document and it makes it easy to share the annotations with other users.
Another useful feature is the ability to rapidly remove a single image, paragraph or a portion of a document so confidential information is not displayed to anyone who doesn’t need to know about it. VDRs also permit automatic watermarks that display the user’s name, IP address and date/time that a document was downloaded or viewed. This is particularly useful when you need to adhere to legal compliance requirements like HIPAA, GDPR, or CCPA.