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What Is a Virtual Data Room?

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Virtual data rooms (VDRs) are online storage spaces that permit the secure exchange of digital documents. VDRs combine the convenience of cloud storage with security features to allow individuals access to shared data on any device that is online at any time. VDRs let companies share data more easily and securely compared to physical data rooms or other digital sharing methods.

Modern virtual data rooms have various security features for documents that allow for specific control of who can view and print or save a file. It should also feature a search feature that can locate information within documents and files, such as PDFs, and provide intelligent results. It should also have the capability of processing documents to convert handwritten text, paper documents and documents saved in images to a digitally readable format. It must be able to track and record user activity all the way to the page level as well as provide a comprehensive audit trail to ensure compliance and in the event of disputes.

Because a large portion of users will be new to using the platform, it’s crucial that the VDR provider offers extensive user onboarding and training sessions. This could be accomplished via videos, webinars, online tutorials or other interactive training sessions. It’s also important that a VDR permits seamless integration with popular productivity tools, such as project management software, communication platforms and applications for editing documents. This will improve navigation and collaboration. It should also offer advanced mobile and cross-platform compatibility to make it easier for users to work remotely.

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