Virtual document storage is vital for many businesses. A VDR makes it simpler to share documents, whether with investors, service providers or even team members. It can also prevent data leaks and data breaches. This is particularly important for businesses that rely on paper, such as law firms and accounting firms.
What is a virtual document?
A virtual document is a document which contains other documents (components or children). This allows the structure of the logical document to be mirrored regardless of how different the documents are. A report, for example could be written in Word but contain tables in Excel as well as the PowerPoint presentation as an appendix. A virtual document permits the document to be broken down into diverse elements that can then be handled the same way as other documents.
Components can be added or removed independently of the parent document. This means that changes made to component files won’t update the version tree of Acquisition of assets the parent document. Additionally, if the entire collection of virtual documents is frozen, changes to the component files will not be automatically updated.
Documents can have a virtual watermark that is unique, allowing anyone to identify who has read, used or manipulated the document. This ensures that in the event that any documents are released the person responsible is tracked down and punished accordingly.
