Best Data Room Software for Data Protection, Sharing, & Security

Virtual data rooms are at the height of their popularity because they have provided businesses with the environment they need. These spaces provide your business with security, facilitate remote interaction, and offer innovative features to increase productivity and close complex deals. However, not all VDRs on the market offer genuinely quality services. This article will look at what elements should be in the best data room.

Security features of the best VDR: What should be in place?

Security features are one of the features of virtual data rooms, so they are in high demand. Therefore, the best VDR should include the presence of, maybe not all, but just a few of these features:

  • Watermarks-contain information about the user who downloaded the document to keep it from leaking
  • Self-destruct feature – the ability to revoke access to documents at any time
  • Modern 256-bit data encryption -securely protects data from leakage during storage and sharing by encrypting document content for unauthorized users
  • Detailed permissions – Access and document interaction control by which administrator can control the actions of any user, prohibit copying, editing, uploading, forwarding, and printing
  • Redundant backups – continuous backups save essential data at all times
  • Virus scanning – built-in antivirus automatically scans new documents before downloading

In addition, the best VDRs should have security certifications like SOC 2 or ISO 27001.

Analytics and Reporting Functions

Best data room software should allow administrators to fully monitor the entire situation that is happening in the space, offering features such as:

  • Audit logs-the system automatically keeps a report of what happened inside the VDR in chronological order, so you can open the log at any time and examine the current situation
  • Document Version Control – Keep track of any changes to the document and who made those changes
  • Automatic alerts – the system will send you a notification every time there is a change or update inside your VDR

Document management features and other actions

The Data Room should greatly simplify your document management and improve other processes to streamline your business operations in principle:

  • Mass downloads -load a large volume of documents into the space in one click. It saves you a lot of time and effort
  • Advanced text search – do a quick search for the file or folder you need by entering one or more keywords
  • Document linking – bundle documents together to make it easier to share them with trusted people within your space
  • Microsoft integration – make it easy to use your familiar Word, Paper Point, and Excel programs and store them securely inside a secure data room
  • The question-answer section improves user interaction and allows you to get a quick answer to your question. VDR administrators can customize the visibility of questions for other users as well as generate an FAQ section
  • Task Management System -Administrators can assign tasks to users, set deadlines, and monitor the progress of their actions

Accessibility features

A VDR, despite its complex system, must remain easy to use, so a quality VDR must have the following:

  • Availability from any device and any operating system – so that users can log in and perform tasks even on the go
  • Mobile apps -for more convenience
  • No plugins – VDRs must be easy to install and versatile
  • Double login authentication – VDR login should also be secure. This feature will protect your password from being hacked because it requires an additional code in addition to your username and password