A virtual dataroom (VDR) allows companies to safely store, manage, and share confidential documents with multiple parties. It is primarily employed for M&A (mergers and acquisitions) due diligence, but the VDR can also be used to handle any project or business transaction involving sensitive information.

The best virtual data rooms offer an easy, intuitive interface that allows for the simple management of large volumes of files. They facilitate the efficient handling of various formats for files, such as video, text, and images and offer flexible permission settings, allowing administrators to restrict who can view, print or download documents. They also come with watermarking strategic asset in governance: digital storage solutions and redaction tools to protect intellectual property and privacy.

When choosing a virtual data room, you should consider how adaptable it is to different operating systems and devices. It should be compatible with iOS, Android and Windows, with no extra plugins needed. It should also allow large uploads via drag-and-drop. Also, you should look at templates for folders in order to ensure that your file system is logical. Users can navigate the virtual dataroom with greater ease by creating a folder titled “Finance” with subfolders for each financial statement. In addition, it is recommended to use a software which recommends file types for storing and uploading. This will reduce time and effort by permitting users to upload files directly into correct folders. A system that suggests file names by using underscores between words can be helpful, since it makes it easier for users to search for and retrieve documents by using keywords.