In major business events, like mergers and acquisitions, tenders, or capital raising, it’s important that all stakeholders get access to the complete set of information. But sorting through tens of thousands of documents can take a long time and can pose security risks. Fortunately, there’s an easy solution: the modern virtual data room (VDR).

But not all VDRs are created to be the same. Many of the free data sharing tools that are available on www.dataroomconference.com/virtual-data-room-checklist-202 the market aren’t designed for a serious use in the corporate world and lack the advanced security, collaboration and other features that a dedicated virtual data room can provide.

Some of these free file sharing tools have been hacked, and are vulnerable to viruses, spyware, and malware. It is essential to select an effective and secure solution like a VDR with a track record.

The most reliable online VDRs allow users to restrict access to documents as well as digital files according to their role in the project. This ensures that information is only shared on a need-to-know basis, minimizing the chance of leaks of confidential data. In addition, advanced features such as encryption of all data transfers MFA, monitoring of logins to determine the your IP address as well as the device help to reduce the chance of unauthorized access. This provides an extra layer of security to the platform.

Other beneficial features that a high-quality VDR could provide is the ability to browse and locate files with a simple search function, and the capability to drag and drop several folders of documents at once into the platform. Similarly, the ability to observe which files are the most often viewed is a valuable insight into what your clients and potential customers want to see in the room, which can help you close the deal by catering to their needs.