VDR and Document Management Solutions
The main point is that a VDR can be used by anyone to use it -for example, C-level executives working on M&A deals, HR departments responsible for maintaining employee records, or project managers in charge of different aspects of a business operation or internal employees who require to share files and data with outside contractors to complete their tasks safely and effectively. This is especially relevant for businesses whose entire existence and growth is contingent on the protection of their important intellectual property (IP) and sensitive data.
The best VDR and document management solution offers a range of features that help make the due diligence and deal-making process easy and efficient. These include document indexing, search features using metadata and text, and powerful tools for creating and managing folders and documents including auto-renumbering, infinite scrolling and favorites. Software features worth considering include an activity tracker with the ability to create versions and a robust document tracker.
A well-designed folder structure consistent naming and access rights are essential to ensure that a plan or deal runs smoothly. A great VDR will have the capability to set granular permissions for folders and documents based on roles and duties. Additionally, the VDR will provide data on who has read or downloaded the document.
The best VDRs ensure that all sensitive information is secured both during storage and in transit. This is an absolute must for ensuring compliance with data privacy regulations and securing against any unauthorized access.