What are virtual data rooms or VDRs?
VDRs are used by businesses to help store and share business documents. Frequently, businesses leverage VDRs to host proprietary business information required for high profile business objectives.
Often, companies will set up VDRs during merger and acquisition discussions to host and share materials between various internal and external parties. There are many documents that require review from executives, lawyers, accountants and bankers, among other parties.
Due to the highly confidential and sensitive nature, VDRs are set up because they offer strict security controls and customizable options to help manage the organization and operational requirements of sensitive projects.
Virtual data rooms are a specialty niche of the larger cloud storage industry and continue to gain momentum in the business community.
VDRs emerged from physical data rooms and the best vendors created software that maintain the tracking and audit trail, along with version control and security features that previously occurred with physical data rooms.
To help aid your decision making process, here are some of the best VDR vendors in the industry.