If you are in charge of handling a critical legal case or a delicate business transaction, then you will have to ensure that your information does not fall into the improper hands. A virtual data room is a must.
A VDR provides enhanced security and control over files by allowing users to browse through documents in a secure setting. This makes them suitable for M&A deals and other sensitive business ventures. The most secure VDRs provide features to protect your data even if a user who using business software is not authorized downloads an unauthorised file. Fence view and view-only mode prohibit users from printing or downloading files. A reliable VDR offers an audit trail that monitors the activities of documents. This includes who has viewed what, from where and when.
A VDR that is efficient can be configured to set the access permissions in granularity. This permits you to restrict printing, viewing and even safeguarded PDF downloads based on the user’s role or the project they are working on. It also allows you to set expiration dates for paperwork and emails. It can also index docs and directories based on their content and automatically alert you to new activity in the data room.
A great VDR will also have the ability to ask questions that allow you to share your concerns about the record with other users in real-time. This is especially beneficial during due diligence since it enables faster and more productive collaboration between buyers and sellers. This can also help to avoid embarrassing miscommunications or misunderstandings.