The best VDRs offer secure platforms for document exchange that allows businesses to complete transactions faster by removing the need for meet physically. They protect sensitive data from security breaches and other threats, by ensuring only authorized users can access files. To help you find the right virtual data space for your company, we have compiled an inventory of the best VDR providers with a wide range of options and prices to fit any budget.

The top VDR vendors let users modify the user interface and set permissions for each user based on their role or contribution to the project. They also provide the control of files in a granular manner and storage. Other features that are useful include drag-and-drop functionality, bulk actions, smart search, as well as customizable Q&A workflows. They also provide an audit trail for every step taken within the VDR. They can also assist companies comply with ISO 27001, GDPR, and HIPAA standards.

VDRs are typically used in M&A deals or fundraising as well as other investment activities. They are particularly beneficial for companies that generate large amounts of confidential data like financial and HR data and intellectual property. They can also enhance communication within a deal by replacing disconnected technologies like email and external workspaces.

A reliable VDR will have an intuitive and user-friendly interface that is easy to use for the CFO as well as accessible to employees of all levels. It should also be compatible with mobile devices, and can be used in a cloud system or on-premises, based on the needs of your company. It should also have different pricing options, such as per-user, per-file or a per-page fee. It should also come with an effective security suite and allow integrations with other software.