What Are The Benefits of a Modern VDR?
Modern VDRs provide many benefits that go beyond traditional VDRs. They have robust features for collaborative work and privacy controls for sharing data.
1. High Security and Compliance Certifications
Modern VDRs must address use cases across many industries. So they often have many more security and compliance certifications. This can include Data room pricing, FINRA, HIPAA, GDPR and others that many traditional VDRs do not have.
2. Modern Security Controls
All have basic security controls to manage and track access to the data rooms. Admins can grant different levels of access permissions to specific file and folders, such as view-only, download or editing access. Modern VDRs can apply real-time vector watermarking to documents or classification labels. They also detect and restrict abnormal behavior (employee downloading entire company's files) or malware detection.
3. Reporting, Auditing & Analytics
Modern VDRs also provide reports and analytics for administrators to track data room activity. This can include file views, downloads and edits by each user and time of action. Admins can use such features to monitor user behavior and ensure that data rooms use is appropriate.
4. Collaboration and Ease of Use
Modern VDRs are a lot easier to use. They provide a modern user experience and strong collaboration tools. These advanced features include robust search, editing, commenting, annotating and sharing across platforms, third-party integrations, unlimited storage and unlimited file versions.
5. Integrated e-Signature Solution
Contracts and data rooms go hand in hand. Virtual data room pricing, supplier contracts, merger agreements and legal documents all need signatures. The best VDRs offer e-Signature natively within the platform. Parties can negotiate, edit and sign contracts within the data room itself, either through desktop or mobile. Everything remains confidential and secure. Emailing drafts back and forth and signing through fax or a third-party eSign provider introduce more security risks.

6. Advanced Search and Document Processing
It can be difficult to find information in a data room filled with thousands of pages of documents. Some providers can only search file names or basic text documents. A modern VDR has advanced document processing features. So it can detect text many file types such as PDF and Excel. Furthermore, it can scan and convert documents into searchable PDFs.
7. Automated Workflow & Processes
These features allow VDRs to be a central hub for any automation of in-process workflows, process approvals, and decisions. Examples could be creating a workflow for signing an VDR, managing invoice approvals, or authorizing files for upload into a data room.
8. File Request
A modern VDR can generate custom links where third-parties can submit their files on a customized drag-and-drop page without the need to login or create an account. This file request feature is a perfect solution for RFPs and RFQs given it involves multiple parties. It is also very suitable for application or document submissions. Examples include a lender requesting financial information or an insurance company requesting evidence of damage.