A virtual dataroom (VDR) can be a repository that is accessible via the internet to share confidential documents in business. VDRs, unlike traditional filing cabinets, are secured and only authorized members can access them. This is useful when companies collaborate on projects and require to share documents without worry of theft or unauthorized access. For instance contractors working on contracts for services or construction often work together to exchange contracts and other documents that are vital to maintain business relationships. These documents can be accessed via the VDR remotely and are able to be updated by all parties to reflect latest changes.

Businesses can choose from various features offered by different VDR providers, based on the project’s needs. Some options include advanced document management features like drag-and drop, auto indexing, automated index numbers as well as fence view, dynamic watermarking, and many more. These tools are aimed at allowing users to build and maintain a clear file structure that includes a robust index of their files quickly. Other features include the ability to share files and folders via email or a direct link as well as multilingual support and a user interface that can be customized.

Furthermore, the majority of VDR providers also provide additional support services offered with their virtual room. These services include training and consulting as well as an expert staff members available round the clock to help with any questions. These additional features can help reduce the amount of time as well as the amount of money that a project requires to be completed. They can also help cut the total time to complete transactions by up to three months due to automated contracts, process standardization and rapid communication between all parties.