A secure virtual data room lets companies exchange data without worrying about confidentiality. Companies are concerned about the rising number of cyberattacks and wish to safeguard their sensitive data from being stolen or lost. They don’t want to expose themselves by using file-sharing services and traditional paper documents.

Research is crucial when selecting the most suitable virtual data room provider. Reading feedbacks on forums and independent review sites can help find a reliable company which will offer everything you require. You should also determine the cost a company charges for their services. You should ensure that the cost is reasonable and not overpriced.

Scalability is an additional factor to take into account when selecting an VDR. It is not a wise idea to choose a solution that doesn’t scale with your business, particularly if it is likely you are going to be involved in multiple corporate deals in the future. Find a provider that has a wide array of options and a flexible pricing policy to ensure that your requirements are met.

A secure data room must also be able to block unauthorised downloading or viewing by encrypting files on the local device of the user. Two-factor authentication is a must, as is Single Sign On (SSO), and granular access rights are additional security features to look for. Also, look for a platform that provides a custom audit trail reports and activity alerts.