A VDR is a device that lets anyone work efficiently and securely regardless of whether they are senior executives involved in M&A transactions HR departments responsible of maintaining employee records or employees within the company who need to share files and data https://www.virtual-data.net/what-is-virtual-data with contractors. This is particularly true for companies that depend on the protection of sensitive information and valuable intellectual property to ensure their success.

The ideal VDR and document management system is a powerful mix of features that will make the due diligence process and deal-making process effortless and efficient. These include indexing of documents, search capabilities that are based on metadata and text, and easy tools for managing and creating folders and documents including auto-renumbering and infinite scrolling as well as favorites. Other software features to look out for include an extensive activity tracker as well as document versioning.

A well-thought out folder structure, consistent naming conventions and access rights play vital parts in ensuring a smooth flow of a project or business deal. A great VDR will have the capability to establish granular permissions on documents and folders according to role and responsibilities. In addition, the VDR will provide data on who has read, downloaded and printed each document.

The best VDRs ensure that all sensitive information is protected both during storage and in transit. This is a must to ensure compliance with privacy regulations and securing against any unauthorized access.