what is virtual data room

Companies often have to share sensitive data with outside professionals or employees – whether it’s lawyers reviewing contracts accounting firms conducting audits or compliance auditors checking for data leaks. In these instances virtual data rooms (VDRs) can help protect sensitive data and provide a secure platform for the sharing of information. A majority of vendors offer trial trials that let you try out the top VDR providers. They offer a broad variety of features, pricing and security features.

The most important aspect to take into consideration when selecting the right VDR provider is the security features of the platform. Look for a vendor that has a range of security certifications such as FedRAMP, FINRA, HIPAA and GDPR. Verify that the VDR can also detect text in many file formats, and convert PDFs to searchable files.

Accessibility of the VDR across different operating systems is a further aspect to take into account. A modern platform should be able to support iOS and Android smartphones, Windows or macOS desktops as well as Linux servers. It should also have options for data storage and hosting locations.

If you’re in the market for a VDR provider, be sure to read its reviews from both internal and external sources. Look for a VDR provider with a proven track record and a significant number of positive reviews on third-party platforms such as Trustpilot or Software Advice. Make sure to read employee reviews on websites like Glassdoor. They can give you a good idea of a company’s ethics and culture.