VDR technology provides a high-tech solution to reduce the threat of leaks of confidential information, whether it be personal data, company documents or intellectual property for projects of any size. It’s a secure way to share files with investors, attorneys, and employees.
A VDR is, in contrast to a typical collaboration platform, shields sensitive information by encrypting and keeping documents in a separate storage location that is isolated from other enterprise content. Access rights are also granted per user, and the capability of tracking who has seen, modified or downloaded documents helps ensure accountability. A virtual repository can integrate with applications for business via an encrypted API to facilitate the control of workflow and programmatic controls.
The use of VDRs VDR also eliminates the need for costly printing and physical storage as well as travel costs associated with in-person meetings. The process is significantly faster, and collaboration among stakeholders is much easier. It’s an efficient method of streamlining M&A deals.
A reliable VDR offers a range of features that facilitate M&A as well as other business processes. These include powerful search features as well as flexible access permissions and audit trails. The platform should also allow for modification to meet unique business requirements, and also provide 24/7 customer support.
In addition to these basic attributes, a good VDR should provide additional features such as simple tools for collaboration and annotation. It should also have customizable templates and a simple interface to offer an intuitive experience for internal and external users. The platform should also work with a variety of devices such as desktops, tablets and mobile phones. This will let all stakeholders participate in due diligence.