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 in charge of keeping employee records, or internal employees who need to share data and files with contractors. This is especially true for companies whose entire existence and success is dependent on the protection of their valuable intellectual property (IP) and sensitive data.
The best VDR and document management software offers a range of features that help make the due diligence and dealmaking process smooth and efficient. They offer document indexing and search capabilities based upon metadata and text. Additionally, there are intuitive tools to create and manage documents and folders, such as auto-renumbering and endless scrolling. Other features of software to look for include an effective activity tracker and document versioning.
A well-designed folder structure consistent naming and access permissions are all crucial in ensuring that a project or deal is run smoothly. A reliable VDR will provide the ability to establish granular permissions on documents and folders according to the roles and duties. The VDR will also provide statistics on who viewed, printed and downloaded each document.
The best VDRs ensure that all sensitive information is protected both in storage as well as during transport. This is a must-have to ensure compliance with privacy laws and safeguarding against the possibility of unauthorized access.