If you’re responsible for managing an extremely public legal matter or a delicate business transaction You’ll want to make sure that your data doesn’t get ideal Board tool into the unintentional hands. A virtual data room is a must.
A VDR gives you greater security and control over documents, allowing users to browse documents within a secure environment. They are perfect for M&A transactions as well as other sensitive business ventures. The top VDRs also offer features that allow you to keep your data secure even if a file is downloaded by an unauthorised user. Fence view and view-only mode prohibit users from printing or downloading files. A quality VDR provides an audit trail that records the activity of documents. This includes who viewed what from where and when.
A good VDR can allow you to set access permissions in a granular manner. This allows you to restrict viewing, printing and safeguarded PDF downloads in accordance with a user’s role or the project they are working on. 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 alert you to new activity in the data room.
A great VDR has an option for Q&A that allows you to discuss concerns regarding the information with other users in real-time. This is especially useful during due diligence because it facilitates a quicker and more efficient communication between sellers and buyers. It can also help avoid embarrassing miscommunications or misunderstandings.
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