Online data rooms are a fantastic method to store, manage and share documents. They are great for any project that requires sharing sensitive information with third-party parties. For example, due diligence in M&A deals or fundraising. Intellectual property is a huge issue in the life sciences field. VDRs allow you to share all documents with investors or clients in an online environment that is secure, so they are able to easily locate and examine the information that is important.

To why not find out more protect sensitive files Select a vendor that has robust security features including multi-factor authentication, as well as an option for accidental deletion redemption. Look for a “View As”, which allows users to view their own access rights prior entering their credentials. Some vendors also offer different options for deployment, meaning you can set up an online data room for specific projects or for a broad collection of users.

A great online data room should provide an easy-to-use configuration that is as clear for the CFO as it is to an accountant at the entry level. It should also provide an incredibly flexible deployment with a single sign-on option for all projects, and the capability to customize the logo as well as the terms of service and general design and appearance. You should look for an agency that allows you to pay per page, or by the number users. This will help avoid any unexpected costs.

A VDR equipped with a smart search feature lets you quickly find a file within the platform, and indexing capabilities help the administrators organize the structure of the room. A lot of providers offer Q&A functions that allow administrators to efficiently handle questions from counterparties.