In contrast to free file sharing tools that permit users to store files on their personal computers and other devices, data room providers are specifically designed for business use and come with high-end security options including virus scanning, encryption firewalls, fetch View and role-based access restrictions. They also provide the ability to create workspaces that hold all your company’s knowledge in one place, making collaboration much easier than ever before.
Virtual data room providers most frequent use case is M&A which involves sharing confidential information with other parties. By facilitating the exchange of this information, a VDR reduces the time needed for due diligence and allows parties to make more informed decisions faster. Another reason to use a VDR is when raising funds, in which businesses have to provide sensitive information to potential investors. Startups and companies can give investors access to crucial financial documents in a safe environment by using the virtual dataroom.
For a top-rated VDR choose one that has a an excellent reputation and a variety of features. For instance, a quality VDR will include advanced search features that includes full-text searches that makes use of optical character recognition (OCR) for PDFs and images. It should also feature an active watermark that blocks unwanted duplication and sharing, and it should allow the setting of clear and intuitive access levels.
Brainloop is a very well-known virtual data room that provides many of the similar functions of other VDRs, but does so in a more user-friendly and customizable way. It also lets you customize your dataroom by adding an identity and color scheme and also personalized notifications and emails.