Virtual data rooms (VDRs) are online repositories for the secure exchange of digital documents. VDRs are cloud-based storage that is paired with security to let users access shared data on any device online, at any time. VDRs allow companies to share data more easily and securely when compared to physical data rooms or other sharing methods.

Modern virtual data rooms offer a variety of security features for documents that allow for the control of who can view the file, print it or save the document. It should also feature an ability to search that can locate information within documents and files, like PDFs, and offer intelligent results. It should also include document processing capabilities that convert typed or handwritten text, paper-based documents and documents saved as images into a digitally understood format. It should be able to track and record user actions all the way to the page level, giving a complete audit for compliance purposes or use in cases of dispute.

It is crucial that VDR providers provide extensive onboarding and training sessions for their customers, since a large portion are new to the platform. This could be through videos, webinars or other online interactive sessions. It’s also crucial that a VDR allows seamless integration with popular productivity tools such as communication platforms and document editing applications. This will facilitate better navigation and more efficient collaboration. It should also feature advanced cross-platform and mobile compatibility to allow users to work remotely.

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