Virtual Data Room Features

A virtual dataroom (VDR) is a platform that lets you securely store, share, and collaborate on documents. Modern VDRs provide a variety of features to aid in organizing and managing the information you keep, including two-way syncing and drag-and-drop features that get the room running in mere minutes. In addition, specific access privileges printing and save controls and tracking of all actions, and sophisticated Q&A and reporting ensure seamless collaboration.

The most frequent use for a VDR is due diligence in M&A transactions. The sell-side needs to review and provide the buyer with the documentation of the transaction, and both parties need a place to do it in a controlled space.

Other important features of a good data room include:

Document labels. Adding and managing labels will allow you to organize files into a folder structure which makes finding the data easier. Certain VDRs have automatic indexing capabilities that allows you to organize thousands of files faster.

Search functionality integrated into the. Searching inside the VDR will help you find the information quickly. Certain VDRs also come with advanced features, for instance, an instant scroll-through viewer that can speed up the process of viewing documents. Certain VDRs also allow you to filter documents using metadata or extensions to files.

Customer support. If you need help regarding a specific feature, or just have general questions regarding how to use a data room, search for a service that provides round-the-clock support via in-app chat telephone, email and in-app chat. Some providers have teams that are committed to dealing with the most difficult requests and offering expert advice.