If you are responsible for handling a critical legal case or a delicate business transaction, then you’ll have to ensure that your personal information doesn’t get into the improper hands. That’s why a virtual data room is vital.
A VDR provides enhanced security and control over files, allowing users to browse through documents in a safe environment. This makes them suitable for M&A deals as well as other highly sensitive business ventures. The best VDRs also have features that help you ensure your data is secure even if a file has been downloaded by an unauthorised user. These include fence view and view only mode, which prevents users from printing and saving files, downloading them and also from taking pictures. A good VDR provides an audit trail, which tracks the activities of documents. This includes who viewed what from where and when.
A VDR that is efficient will allow you to define the access rights at a high level. This allows you to limit access to printing, viewing, and PDF downloads in accordance with a user’s role or project. You can also set expiration dates for documents as well as messages. It also allows you to index documents and directories by their content and will automatically notify you to any new activity in the data room.
A reliable VDR has an Q&A feature that allows you to discuss concerns regarding a record with other users in real-time. This is particularly valuable in due diligence because it allows for faster and more efficient communication between sellers and buyers. It can also help avoid embarrassing miscommunications and misinterpretations.