What Is a Virtual Data Room?

A virtual data room (VDR) is an online repository for the secure sharing of digital documents. VDRs combine the convenience of cloud storage and security features to allow individuals to access shared information on any device that is online at anytime. This means that VDRs enable businesses to share information more quickly and securely than traditional data rooms, or digital sharing methods.

A modern data room provides a variety of document-specific security features that give you complete control over who can print, save or browse the particular file. It should also feature a search feature that can locate information within documents and files, including PDFs, and produce intelligent results. It should also have document processing capabilities that convert handwritten or typed text, paper-based documents as well as text saved in images into digitally readable format. It should be able to monitor and record user activities down to the page-level, providing a thorough audit for compliance purposes or in the event of disputes.

It is essential that VDR providers provide extensive onboarding and training sessions for their users, since many are new to the platform. This could be through videos, webinars, or other interactive online sessions. A VDR should also be able to integrate seamlessly with popular productivity software such as tools for managing projects, communication platforms, and software for editing documents. This will improve navigation and collaboration. It should also be compatible with mobile devices as well as platforms that are cross-platform, making it easier for remote users to work.