A VDR is a device that lets anyone work effectively and safely whether they are C-level find executives involved in M&A transactions HR departments that are in charge of keeping employee records, or internal employees who have to share information and files with contractors. This is especially true for companies whose entire existence and future success depends on the protection of their precious intellectual property (IP) and sensitive data.

The right VDR solution and document management software provides an array of powerful features that make the due diligence as well as the dealmaking process efficient and easy. This includes document indexing, search capabilities based on metadata and text, and easy tools for managing and creating documents and folders. This includes auto-renumbering, infinite scrolling and favorites. The features you should consider are an activity tracker with an automatic versioning system, as well as a robust document tracker.

A well-designed folder structure and consistent naming as well as access rights are crucial to ensure that a project or deal goes smoothly. A well-designed VDR can allow users to set granular permissions for documents and folders based on role and the responsibilities. The VDR will also provide statistics on who viewed and printed each document.

The most effective VDRs ensure that all sensitive data is secured both during storage and in transit. This is a must for ensuring compliance with privacy regulations and securing against the possibility of unauthorized access.