V-rooms Data Room Review
While there is a Q&A module inside the V-rooms VDR it is very basic and does not allow for discussing matters in real-time. Even if you ask a question, you have no idea as to the status of this question which means that you will have to ask other participants if they have seen your question, who will find the answer and lots of other extraneous communication. Furthermore, it does not provide a report of which questions have been asked and answered so if someone joins the project at a later stage, they may be asking the very same questions that have already been asked and answered. Some data rooms avoid this situation by offering an FAQ list and a complete report of Q&A communication.
The audit trail that they offer is not comprehensive. While it is possible to see which user accessed certain information, you cannot see for how long they accessed it. Also, while there are reports available as far as individual users are concerned, there are no group reports available. Such group reports include valuable information such as the number of participants invited, the amount of documents posted, the number of documents accessed and other information. By keeping track of all activity that goes on inside the data room, you can avoid certain liabilities in the event of a legal dispute.
There are still some lingering security concerns. They do not offer remote shredding which is problematic because sometimes laws and regulations require certain documents to be shredded after use. This not only helps build mutual trust between participants but also helps reduce the chances of corporate espionage. Also, there is really nothing that could stop somebody from simply taking a picture of their computer screen containing sensitive information. There are data rooms out there that offer innovative security features that help defend against camera-based attacks.
V-rooms goes to great length to make sure that participants can share and access information inside the data room, but the speed at which deals and transactions are conducted in nowadays require more advanced and intuitive features that V-rooms simply does not have. Also, there are a lot of different ways data rooms can be breached nowadays, which means that the data room you choose needs to have innovative security measures in place. This will allow all participants to sleep better at night, facilitate open and honest dialogue and increase the chances of your deal getting done on time. For these reasons, it would be better for you to find a provider that offers the comprehensive support that V-rooms cannot offer.