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It doesn’t matter if you’re a startup or a well-established enterprise, using a virtual data space (VDR) is an important component of your company’s toolkit. VDRs are a great tool for collaboration and due diligence and secure storage and file-sharing. They are especially useful when working with sensitive or confidential data.

VDRs are often employed in M&A transactions however, they are beneficial to startups that require capital and other corporate activities. The use of a data room permits you to upload confidential revenue projections, IP ownership documentation, and financial records that allow investors to conduct thorough due diligence.

When choosing a VDR it is crucial to think about the storage capacity. Also, make sure that you select a platform with features that your team will need. Additionally, a great VDR will let you alter the user interface and give access to users granular permissions depending on the role, document or folder level. Look for a solution with watermarks that will reduce the chance of theft and mishandling as well as version control. Digify’s virtual data rooms offer these and other advanced features. To learn more about our services, start your free trial today.