A VDR is a device that allows anyone to be productive and secure regardless of whether they are senior executives involved in M&A transactions HR departments responsible of maintaining employee records or employees within the company who need to share information and files with contractors. This is especially true for companies that depend on the protection of sensitive data and intellectual property to ensure their success.
The best VDR solution and document management software gives an impressive set of features that make the due diligence process and dealmaking process efficient and effortless. They provide document indexing and search capabilities based upon metadata and text. Additionally, there are simple tools to create and manage folders and documents, including automatic renumbering and infinite scrolling. Software features worth considering include an activity tracker that has the ability to create versions and a robust document tracker.
A well-designed folder structure with consistent naming and access rights are essential to ensure that a project or deal goes smoothly. A good VDR will provide the ability to define granular permissions for documents and folders according to roles and the responsibilities. The VDR will also provide statistics on who read, printed and downloaded each document.
In addition, the most effective VDRs will ensure that all sensitive data is secured during storage and in transit. This is an absolute must for ensuring compliance with data privacy regulations and protecting against unauthorised access.
