If you are responsible for managing a crucial legal case or a sensitive business transaction, then you’ll need to ensure your data doesn’t fall into the wrong hands. This is why a virtual data room is necessary.
A VDR can provide enhanced security and control of documents by allowing users to browse documents within a secure environment. They are perfect for M&A transactions as well as other sensitive business ventures. The most secure VDRs offer features to help keep your data secure, even if a user who is not authorized downloads a file. These include fence view and view only mode, which prohibits users from printing, saving or downloading files and taking photographs. Moreover, a good VDR will provide an audit trail to monitor document activity. This includes who viewed which document from where and when.
A good VDR can allow you to determine access permissions at a high level. You can restrict access to viewing print, printing and PDF downloads that are protected by the role of the user. You can also set dates for the expiration of documents and messages. It also allows you to index documents and directories by their contents and will automatically notify you to new activity in the data room.
A reliable VDR also comes with a Q&A feature that allows users to discuss issues with the information in real-time with other users. This is especially useful during due diligence since it enables faster and more productive collaboration between sellers and buyers. It also helps you avoid embarrassing miscommunications and miscommunications.