If you are in charge of managing an important legal case or a sensitive business transaction, then you will have to ensure that your personal information doesn’t get into the wrong hands. That’s why a virtual data room is vital.
A VDR gives you greater security and control over documents by allowing users to browse documents within a secure environment. They are perfect for M&A transactions as well as other business ventures. The top VDRs also have features that will help you keep your data safe even if a file has been downloaded by an unauthorised user. These include fence view and view only mode, which blocks users from printing and saving files, downloading them and taking pictures. Additionally, a reliable VDR will provide an audit trail that allows you to keep track of the activities of the document. This includes who viewed what from where, and when.
A VDR that is effective will allow you to define the access permissions at a granular level. This permits you to restrict printing, viewing and secure PDF downloads based on the user’s job or project. You can also set expiration dates for documents as well as messages. It can also index docs and directories according to their content and alert you to any activity that is occurring in the data room.
A reliable VDR will also include an option for Q&A that allows you to share your concerns about the information with other users in real-time. This is particularly useful during due diligence as it facilitates faster and more efficient collaboration between vendors and buyers. It can also help avoid embarrassing miscommunications and misinterpretations.