A virtual data room can be a useful tool for sharing confidential data and working together, whether you’re in charge of a merger acquisition deal or working with customers. VDRs come with built-in versioning controls and user access that is granular and analytics that allow you to track activity, right down to the last search, and also the longest viewed document.
You can also apply a custom watermark for any document to block any unauthorized use. You can also ask users to sign a contract for use before they can access your documents or download them. This is an excellent way to secure sensitive information and avoid leaks. Physical data rooms cannot offer this.
The pharma industry often deals with a lot of confidential documents, which can be difficult to manage without an online document management software. With the HIPAA-compliant security features you can ensure that the information of patients remains secure and protect the integrity of your documents. In addition, you can take a file out to modify it and return it after making changes.
It is crucial to consider your business goals and the needs of each team member when selecting the best VDR. One way to determine the best solution for your particular situation is to try free trials. You can test your workflows and determine whether the solution is suited to your requirements. This will help you discover any weaknesses and then find alternatives.