https://www.virtual-data.net/what-is-virtual-data-2
The main point is that a VDR makes it easy for anyone to use it -for example, C-level executives working on M&A deals HR departments charged with keeping records of employees, project managers in charge of different aspects of a business operation, or even internal employees who have to share files and data with outside contractors — to accomplish their tasks in a secure manner and effectively. This is particularly important for companies whose existence and success is dependent on the protection of their precious intellectual property (IP) and sensitive data.
The best VDR solution and document management software can provide a powerful combination features that makes the due diligence process as well as the dealmaking process efficient and effortless. This includes document indexing, search options using metadata and text, and easy tools for creating and managing documents and folders. These include auto-renumbering, infinite scrolling, and favorites. The features you should consider are an activity tracker that includes an automatic versioning system, as well as a robust document tracker.
A well-thought-out and organized folder structure and consistent naming conventions, as well as access rights all play crucial roles in ensuring a seamless workflow for a new project or business deal. A good VDR can allow users to set granular permissions for folders and documents based on the role and responsibility. The VDR will also provide statistics on who read or printed the document.
The most effective VDRs ensure that all sensitive data is secured both in storage as well as during transport. This is essential to ensure compliance with privacy laws and safeguarding against the possibility of unauthorized access.