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What Are Virtual Data Rooms?

Virtual data rooms (VDRs) are secure platforms for sharing and storing crucial documents for projects. They are commonly used to conduct due diligence during M&A litigation, lawsuits, patent management, real estate transactions, case file management, and more.

VDRs protect sensitive information through strict permissions, ensuring no one is able to access your files unless you want them to. They can also help with regulatory compliance, thanks to detailed activity tracking and reports that can be customized.

When choosing the best VDR, look for one with features that support your project and industry needs. For example certain VDRs offer a “favorites” feature that lets users mark folders and files as favorites for easier access. Some VDRs have infinite scrolling, which can reduce the number clicks needed to look over documents. Certain documents feature dynamic watermarks, which display the IP address of the user and their name whenever they open or save the document.

Some VDRs not only boost productivity by incorporating collaboration tools, they also make it simple to import data and projects from other tools to the platform while maintaining their folder structure. This is particularly useful when transferring data or consolidating digital tools into one system. Certain VDRs also offer an annual subscription with unlimited usage instead of a single transaction. This can help improve budget predictability and ROI.

Digify’s VDR solution is comprehensive and offers the full range of features. Start your free trial to get the benefits of serious sharing. Contact us for a demonstration of our innovative VDR designed with your business in the mind.

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