A virtual data space provides an secure and safe environment to share documents and files with different stakeholders during M&A. It allows users to review and comment on documents, communicate with other members, track the progress of their activities, and much more. Its benefits include an easy to use interface, powerful security and collaboration tools, and a lower cost than traditional storage solutions.
In the case of a VDR access is controlled by permissions that are set at the level of the document or folder. You can limit the download to PDF versions of documents, or the originals with watermarks. Documents can also be scheduled to expire, and you can track who downloaded what when. Administrators can “virtually” shred a document, or disable downloading rights if needed.
A reliable virtual dataroom will also have a user-friendly platform that can be customized and can be customized to meet your processes for business, IT systems and workflows. It should also support drag-and-drop uploading, and allow the creation of custom folder structures and a comprehensive search. It should also include an audit trail, as well as a straightforward tag feature for files to ensure that every activity is documented.
The right open-source virtual data room will come with an extensible API for integration with other applications and tools. It will also offer numerous options for customization including the ability to build your own branded user interface and a robust security model that safeguards against insider threats. It will also perform regular vulnerability scans, infrastructure penetration tests and will implement protection against denial of service attacks.