A virtual dataroom offers the security and safety of a space to share documents and files during M&A with a variety of stakeholders. It lets users communicate with other participants, review and comment on documents, monitor the progress of their activities, and more. Its advantages include an easy-to use interface, powerful security and collaboration tools, and a less expensive price than traditional storage solutions.
In the case of a VDR access is controlled by permissions set at the folder level or at the document level. You can restrict the download to PDF versions of documents or the originals with watermarks. It is also possible to set a date for expiration for documents and keep track of who has downloaded what and when. Administrators can “virtually” shred a document, or disable downloading rights if needed.
A good virtual data space will also have an intuitive and adaptable platform that can be customized to meet your specific business processes, IT systems and workflows. It should also permit drag-and-drop and customized folder structures, along with a comprehensive search feature. It should also provide an audit trail and an easy-to-use file tag system to ensure that all actions are documented.
The most effective open-source virtual data rooms have an extensible interface that allows integration with other tools and applications. It will also provide a range of customization options that include the ability to personalize your user interface. A strong security model will guard against insider threats. It will also perform regular vulnerability scans and penetration tests for infrastructure with a third-party vendor, and will implement protection against attacks of denial of service.