A virtual data room offers an secure and safe environment to share files and documents with many stakeholders during M&A. It allows users to communicate with other members, look over and comment documents, track activities, and much more. Its advantages include a simple interface as well as strong security and collaboration features and a cost-effective solution in comparison to 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. Admins can “virtually” shred the document or remove downloading rights if needed.
A well-designed virtual dataroom will have a user-friendly platform that is flexible and can be customized to meet your business processes, IT systems and workflows. It should also allow drag-and-drop and customised folder structure, and a thorough search. It should also offer an audit trail and a simple tag feature for files to ensure that all activities are documented.
The ideal open-source virtual data room should include an extensible API for integration with other applications and tools. It will also come with a range of customization options that include the ability to customize your own user interface. A strong security model will protect against insider threats. It will also conduct regular vulnerability scans as well as penetration tests of the infrastructure using an outside vendor and protect against attacks of denial of service.
