If you are responsible for managing an important legal case or a sensitive business transaction, then you’ll need to ensure that your data doesn’t fall into the wrong hands. This is why a virtual data room is crucial.
A VDR gives you greater security and control over files through allowing users to browse through documents in a secure setting. They are ideal for M&A transactions as well as other sensitive business ventures. The best VDRs also come with features that allow you to protect your data even if a file is downloaded by an unauthorised user. Fence view and view-only mode stop users from printing or downloading files. Additionally, a quality VDR will provide an audit trail that tracks the activity of documents. This includes who saw what from where, and when.
A VDR that is reliable allows you to define the access rights at a high level. You can limit this page access to, printing, and PDF downloads that are secured depending on the user’s role. It also lets you to set expiration dates for paperwork and emails. It also allows you to index documents and directories based on their content, and can automatically alert you to any activity that is occurring in the data room.
A great VDR can also be equipped with the ability to ask questions that allow you to talk about concerns with the information with other users in real-time. This is particularly helpful in due diligence because it facilitates faster and more efficient communication between vendors and buyers. This also helps to avoid embarrassing miscommunications or misunderstandings.