When a company is required to quickly gather and review vast amounts of information in order to make critical business decisions, like M&A deals or fundraising rounds, it can be difficult to sort through tens or hundreds of thousands, of documents. This is the point where a virtual room (VDR) can come in handy It’s a safe digital environment for storing and sharing the information which makes it accessible to all stakeholders.

It is essential to know what you’re looking for in the VDR. This will help you pick the most suitable one for your needs. You can then avoid the maze of features, and pick the one that will allow you to complete your work quickly and without risk.

Essential features include choose data room granular permission settings and a watermarking technology that is dynamic that assigns unique identifiers to each file and is date-stamped the user’s activity report and the possibility to set up notifications and be informed of any modifications to files. Other valuable features are the ability to customize your workspace to match your corporate brand identity, including logos, color schemes and invitation emails, and to add terms and conditions including watermarks, headers as well as footers to downloaded and uploaded files.

Choose a service provider who offers free trials and pay-as-you-go models that are flexible without long-term contracts. Look for a service that recognizes the regulatory requirements which may be required by certain industries and incorporates that knowledge into the software. Features such as audit trails and version control, as well as the ability to prove that customers have read and viewed the risk warnings are just a few of the options to look for.