VDR software enables companies to share confidential documents with other parties, for example, potential clients or investors. This is especially beneficial for the legal field where many procedures require sensitive sharing of documents. Whether it’s an M&A due diligence process or an IPO using a virtual data space streamlines the process and ensures that crucial information doesn’t get disclosed to unauthorised parties.
Additionally, the capability to integrate VDR with existing business applications makes it easier for parties to collaborate on projects. For instance the integration with Asana lets users connect tasks within Asana to relevant documents stored on VDR. This makes it easy for project managers and teams to track the progress and remain on top of their responsibilities.
To find the best virtual data room, look for a service that has features that meet your needs. A VDR must be secured with anti-virus and malware scanning, multifactor identification and advanced encryption. It should, in addition, have an audit log that records all user and document activities and the ability to examine these details. It is VDR software also important to determine if a VDR partner has certifications from third parties, such as SOC, to give you confidence that the platform is compliant with industry-leading security standards.
A clean, intuitive interface is another essential feature. It should be available to both the CFO and the accountant who is just starting out. Choose a vendor that prioritizes this with a simple set-up and a variety of options for deployment. Make sure that your VDR can be customized with your logo, terms and conditions, and general layout.