A VDR is a device that allows anyone to work effectively and safely regardless of whether they are senior executives involved in M&A transactions HR departments responsible of keeping employee records, or internal employees who have to share information and files with contractors. This is particularly important for companies whose existence and success is dependent on the protection of their important intellectual property (IP) and sensitive data.
The ideal VDR and document management software provides a powerful combination of features that help make the due diligence and dealmaking process smooth and efficient. This includes indexing of documents, search capabilities using text and metadata, as well as easy tools for creating and managing documents and folders. This includes auto-renumbering and infinite scrolling as well as favorites. Software features to consider include an activity tracker, which has an automatic versioning system, as well as a robust document tracker.
A well-thought out folder structure with consistent naming conventions and access rights play vital aspects in ensuring a smooth workflow for a business or project. A great VDR can allow users to establish granular permissions on documents and folders based on roles and responsibilities. The VDR will also provide statistics about who viewed the document, printed it and downloaded it. document.
The best VDRs will ensure that all sensitive data is secured while stored in storage as well as when it is in transit. This is an essential feature for ensuring compliance with privacy regulations and safeguarding against any unauthorized access.