A virtual dataroom provides a secure, safe environment to share documents and files during M&A with a variety of 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 strong security and collaboration features and a cost-effective solution as compared to traditional storage options.
In a VDR access is controlled by permissions at the document or folder level and can be restricted to only download PDF versions or the original documents with watermarks. It is also possible to set an expiration date for documents and keep track of who has downloaded what and when. Admins can “virtually” shred documents, or deactivate download rights as needed.
A good virtual data room should also provide an easy and flexible platform that can be tailored to your specific business processes, IT systems and workflows. It should also support drag-and-drop uploading and allow for the creation of custom folder structures and a comprehensive search function. It should also offer an audit trail as well as a simple website here file tagging feature to ensure all activities are recorded.
The most effective open source virtual data rooms have an extensible interface to integrate with other tools and applications. It will also come with numerous options for customization which include the ability to develop your own branded user interface and a strong security model that safeguards against insider threats. It will also conduct regular vulnerability scans and infrastructure penetration tests with a third-party vendor, and will implement protection against attacks that cause denial of service.
