If you are responsible for handling a critical legal case or a delicate business transaction, then you’ll need to ensure that your personal information doesn’t get into the wrong hands. A virtual data room is an absolute necessity.
A VDR gives you greater security and control over files by enabling users to browse through documents in a secure environment. They are perfect for M&A transactions as well as other sensitive business ventures. The best VDRs offer features to help ensure your data is secure, even if a user who is not authorized downloads an unauthorised file. These include fence view as well as view only mode that prevents users from printing or saving files as well as taking photographs. Additionally, a quality VDR will provide an audit trail that allows you to keep track of document activity. This includes who has viewed what, from where and when.
A VDR that is efficient will allow you to define the access rights in granularity. You can restrict the viewing print, printing and PDF downloads that are secured based on the user’s role. You can also set expiration dates for documents and messages. It also allows you to index documents and directories by their contents and alert you to new activity in the data room.
A great VDR will also include the ability to ask questions that allow you to discuss concerns regarding the information with other users in real-time. This is especially beneficial during due diligence as it enables a faster and more efficient communication between sellers and buyers. This will also help avoid embarrassing miscommunications or misunderstandings.