A virtual dataroom offers a safe, secure environment to share documents and files during M&A with multiple stakeholders. It lets users communicate with other members, look over and comment on documents, monitor the progress of their activities, and more. Its benefits include an easy-to-use interface along with solid security and collaboration features as well as a lower cost compared to traditional storage solutions.
In the case of a VDR access is controlled by permissions set at the level of the document or folder. You can restrict the download to only PDF versions of documents, or those with watermarks. Documents can also be scheduled to expire, and you can monitor who downloaded what and when. Admins can also “virtually shred” documents or deactivate download rights if needed.
A good virtual data room will also offer a user-friendly and customizable platform that can be customized to meet your specific business processes, IT systems and workflows. It should also allow drag-and-drop uploading and permit the creation of custom folder structures and a comprehensive search. It should also feature an audit trail as well as an easy-to-use tag system for files to ensure that all activities are recorded.
The right open source virtual data room should include an extensible API to integrate with other tools and applications. It will also come with many options for customization including the ability to create your own user interface that is branded and a strong security model that safeguards against insider threats. It will also perform regular vulnerability scans and penetration tests for infrastructure with a third-party vendor, and will protect against denial of service attacks.
