A virtual data room is an essential tool for any company, whether you are either a start-up or an established one. VDRs are used to facilitate due diligence, collaboration, secure storage and file sharing. They are particularly helpful when working with sensitive or confidential information.
VDRs are typically used in M&A transactions. However they can also be very beneficial for startups as well as other corporate activities. You can upload confidential revenue projections and IP ownership documents to a data room which enables investors to conduct thorough due diligence.
When choosing a virtual data room, it’s crucial to consider storage capacity and ensure that you select one that has the features your team requires. Additionally, a great VDR allows you to customize the user interface as well as give access to users granular permissions depending on the role, the document and the folder level. Also, you should look for an option that includes watermarks in order to reduce the chance of theft or mishandling, and allow for the ability to control version. Digify’s virtual rooms include these advanced features, and more. To learn more about our services, start an online trial for free today.