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During major business events such as mergers and acquisitions, tenders or capital raising, it is crucial that all stakeholders have access to the complete set of information. The process of sorting through thousands or tens of data room file storage capabilities thousands of documents is time-consuming, and could pose security risks. There’s a simple solution: the virtual data room.

However, not all VDRs are created in the same way. Many of the free file sharing tools on the market were not designed for serious corporate use and are lacking advanced security as well as collaboration and other features.

Some of these file-sharing tools have been hacked, and are susceptible to viruses, spyware, and malware. It is crucial to choose a secure and trustworthy solution for your needs, such as a VDR that has a proven track record.

The top online VDRs provide granular document/digital data access control for users based on their role in the project. This ensures that information is only shared on a strictly need-to-know basis, minimizing the chance of leaks from data that are not authorized. Furthermore, advanced features such as encryption of all data transfer MFA, user login monitoring that checks your IP address as well as the device help to limit the possibility of unauthorized access, by providing an extra layer of security to the platform.

A high-quality VDR can also provide the capability to search and browse files quickly using a simple function. It will also let you to drag and drop multiple folders onto the platform at once. Also, the ability observe which files are viewed most frequently can be an important insight into what your clients and prospects want to see in the room, which can assist in closing an agreement by catering to their preferences.