In the event you’re in charge of managing a high-profile legal case or a business transaction that is sensitive You’ll need to make sure that your data does not fall into the improper hands. A virtual data room is a must.
A VDR offers enhanced security and control over documents, allowing users to browse documents in a secure environment. They are perfect for M&A transactions as well as other business ventures. The top VDRs also offer features that allow you to ensure your data is secure even if the file was downloaded by an unauthorised user. These include fence view and view only mode, which blocks users from printing or saving files and taking screenshots. Furthermore, a great VDR will provide an audit trail to track document activity. This includes who saw what from where and when.
A good VDR will let you set access permissions in a granular manner. You can limit access to print, printing and PDF downloads that are secured depending on the user’s role. It also lets you to set expiration dates on paperwork and messages. It can also index documents and directories according to their content and automatically alert you to any new activity in the data room.
A great VDR will also have a Q&A function that enables you to discuss concerns regarding the records with other users in real-time. This is especially helpful during due diligence since it enables faster and more efficient collaboration between buyers and sellers. It can also help to avoid embarrassing miscommunications or misunderstandings.
