A virtual data room (VDR) is utilized in any scenario where a business shares private information with third parties without risking a breach, or compliancy. A VDR is a useful option for any business looking to secure board communications, complete an M&A deal, or discover the cure for a disease.

Most VDR providers offer a no-cost trial to allow you to “kick tires” and see what each has to provide virtual data rooms in actual. You can discover how a VDR streamlines the process of due diligence and makes complicated business transactions run more smoothly when you use a free trial.

The best VDR will consolidate all your digital tools into one integrated system that is simple and easy-to-navigate. You’ll have a range of features at your fingertips that include executive suites and a folder system that resembles your file system.

VDRs can be accessed anywhere with an internet connection, allowing teams to collaborate across the globe. VDRs also offer a cost-effective alternative to traditional physical data rooms. Additionally, the granular access control capabilities of certain VDRs permit administrators to restrict who sees what, when and in what order — and thus protect sensitive content from unauthorized access.