Companies often have to share sensitive data with outside experts or employees – whether it’s lawyers reviewing contracts or auditing firms from accounting firms or compliance auditors examining for leaks of data. In these cases, virtual data rooms (VDRs) can help protect sensitive files as well as provide a secure environment for the sharing of information. The best VDR service providers offer a variety of features, price points and security solutions which can be tested with trial periods offered by a majority of vendors in the field.

When choosing a VDR, the most important aspect to consider is the security level. Find a vendor who provides a variety of security certifications, including FedRAMP, FINRA, HIPAA and GDPR. In addition, ensure that the VDR has capabilities for processing documents that can recognize text in a variety of file formats. It can also convert PDFs to searchable documents.

Another factor to consider is the VDR’s ability to be used on different operating systems and devices. A modern platform should support iOS and Android phones, Windows or macOS desktops and Linux servers. It should also allow options for data hosting facilities and physical storage.

When searching for a VDR it is essential to read reviews from both internal as well as external sources. Look for a VDR provider that has a solid track record, and a large number of positive reviews on third-party platforms such Trustpilot or Software Advice. Make sure to read reviews from employees on sites such as Glassdoor. They can offer insight into a company’s ethics and culture.

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