A VDR is a device that lets anyone be productive and secure, whether they are C-level executives involved in M&A transactions HR departments that are in charge of keeping employee records, or employees within the company who need to share information and files with contractors. This is especially important for companies that rely on the security of sensitive data as well as valuable intellectual property to ensure their success.
The right VDR solution and document management software provides an effective combination of features that makes the due diligence process as well as the dealmaking process efficient and easy. This includes document indexing, search options based on text and metadata, as well as intuitive tools for creating and managing documents and folders, including automatic renumbering, endless scrolling and favorites. The features you should consider are an activity tracker that includes the ability to create versions and a robust document tracker.
A well-designed folder structure with consistent naming and access permissions are all important to ensure that a project or deal runs smoothly. A reliable VDR will provide the ability to assign granular access rights to folders and documents based on the role and responsibility. The VDR will also provide statistics about who viewed or printed the document.
The most effective VDRs ensure that all sensitive data is protected both in storage and during transit. This is an essential feature to ensure compliance with privacy regulations and safeguarding against any unauthorized access.