VDR software enables companies to share confidential documents with external individuals such as potential investors or clients. This is especially useful for the legal field which has many procedures that call for sensitive document sharing. It doesn’t matter if it’s an M&A or due diligence process or an IPO using a virtual data space streamlines the process and ensures that sensitive information isn’t disclosed to unauthorised parties.
The ability to integrate the platform with existing business applications makes it easy for parties to collaborate on projects. For instance, the integration with Asana lets users link tasks in Asana with relevant documents on the VDR platform. This helps project managers as well as teams stay on top of the progress of their projects and their responsibilities.
Find a platform that has features that suit your requirements. A VDR must be secure and have anti-virus and malware scanning, multifactor identification, and advanced encryption. It virtual data room solution should have an audit log that tracks all document and user activities, as well as the ability to probe these details. Find out if a VDR partner holds third-party certifications like SOC to ensure that the platform is up to the highest standards in the industry.
Another important feature is a clear, easy-to-use interface that’s equally accessible to the CFO as it is for the entry-level accountant. Choose a provider that focuses on this with a simple set-up and a variety of deployment options. Also, make sure you can alter the look of your VDR with your own logo Terms and Conditions, and general layout.
