A VDR is a tool that allows anyone to work efficiently and securely regardless of whether they are C-level executives involved in M&A transactions, HR departments in charge of keeping employee records, or internal employees who need to share data and files with contractors. This is particularly true for companies whose entire existence and future success depends on the protection of their valuable intellectual property (IP) and sensitive data.
The best VDR solution and document management software gives a powerful combination features that make the due diligence and deal-making process effective and smooth. They provide document indexing and search capabilities that are based on metadata and text. Additionally, there are easy tools to design and manage documents and folders, such as auto-renumbering and endless scrolling. Other software features to look for include an active activity tracker that is robust and document versioning.
A well-thought-out folder structure along with consistent naming conventions as well as access rights play key parts in ensuring a smooth flow of a business or project. A good VDR lets you create granular access permissions based on roles and responsibilities for folders and files. The VDR will also provide statistics on who has viewed and printed each document.
The best VDRs will ensure that all sensitive data is secured while stored in storage and while in transit. This is an essential feature for ensuring compliance with privacy regulations and protecting against unauthorised access.