A VDR is a tool 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 maintaining employee records or internal employees who have to share files and data with contractors. This is particularly applicable to companies whose whole existence and growth is contingent on the security of their valuable intellectual property (IP) and sensitive data.
The right VDR and document management system is a powerful mix of features that allow due diligence and deal-making process easy and efficient. These include document indexing, search capabilities using text and metadata, and intuitive tools for creating and managing folders and documents including auto-renumbering and infinite scrolling as well as favorites. The features you should consider are an activity tracker, which has the ability to create versions and a robust document tracker.
A well-designed folder structure and consistent naming as well as access rights are essential in ensuring that a project or deal goes smoothly. A good VDR will provide the ability to assign granular access rights to documents and folders according to the roles and responsibility. Additionally the VDR will provide statistics on who has viewed or downloaded the document.
The best VDRs ensure that all sensitive information is protected both in storage and while it is being transferred. This is an essential feature for ensuring compliance with privacy laws and safeguarding against any unauthorized access.