A VDR is a tool that lets anyone be productive and secure regardless of whether they are C-level executives involved in M&A transactions, HR departments in charge of archiving employee records or internal employees who have to share information and files with contractors. This is especially important for companies that rely on the security of sensitive data and intellectual property to ensure their success.
The right VDR solution and document management software offers an impressive set of features that make the due diligence process and deal-making process efficient and effortless. This includes document indexing, search capabilities based on metadata and text, as well as easy tools for managing and creating folders and documents including auto-renumbering, infinite scrolling, and favorites. Other software features to look for include an extensive activity tracker as well as document versioning.
A well-designed folder structure consistent naming and access permissions are all important to ensure that a plan or deal goes smoothly. A well-designed VDR will provide the ability to set granular permissions for documents and folders based on roles and responsibilities. Additionally, the VDR will provide data on who has read or downloaded the document.
The best VDRs ensure that all sensitive information is encrypted in storage and while it is being transferred. This is a must to ensure compliance with privacy laws and preventing any unauthorized access.