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How to Choose the Right Data Room Software

Data room software can be an excellent way to share sensitive documents online. It allows companies to manage all of their document-related tasks in one central place and guarantees the security of data through precise security settings. It also offers several options that traditional file-sharing services do not, for instance, the ability to black out areas of files so personal data remains private.

Virtual data rooms can be an excellent tool for due diligence, or to facilitate mergers and acquisitions. Users who are familiar with physical data rooms and other ways of managing data will need to learn a new system. However there are a few key aspects to consider when making a decision.

User onboarding

To make the most of your VDR you will require more than just tutorials and documents. The top VDR providers provide a full range of training and support tools to assist you in your initial steps with videos of the system and webinars run by their customer success team.

Security

Security is an essential aspect for any business but it’s particularly crucial for a VDR. Be sure to select a vendor that has security certifications, like ISO 27001, SOC 1/2/3 GDPR, and HIPAA. Consider additional security features like two-factor authentication and the capability to restrict the duration of the downloading or viewing of documents. You must also be able to keep track of activity in your VDR with detailed audit reports.

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