Choosing a VDR Vendor

Virtual Data Rooms are used by professionals to share confidential documents. They save businesses valuable time energy, money and help manage intellectual property concerns. When choosing a VDR vendor it is crucial to select a vendor with experience and will protect your personal information. A good VDR vendor should also have positive reviews from clients and an excellent reputation. You can locate these by looking at online reviews of customers such as Trustpilot or Software Advice, as well as reviews from employees on Glassdoor.

A VDR is an online repository that allows sharing of documents, data, and other content in a secure environment. It is a resource that can be utilized by various stakeholders, with different access and permissions. This could include internal project team members, lawyers and investors. The administrator controls access via the permissions system which defines the folders and files that are accessible, downloaded or printed. Access can also be terminated at any point.

CNSC staff can weigh the need to protect sensitive commercial data of vendors while also having to conduct a thorough evaluation and provide transparent reports on these reviews. The VDR is easier to administer than a physical dataroom, and it’s less expensive than paper. It also reduces the cost of travel for the participants. It allows for more efficient discussions with the vendor, which results in bid values which are between 20-30% higher. The VDR is accessible from any device, even mobile devices. This ensures that the highest degree of security and transparency is maintained throughout the entire review.

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