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VDR software enables companies to share confidential documents with external individuals such as clients or prospective investors. This is particularly useful for the legal industry, where a lot of procedures require the sharing of sensitive documents. If it’s an M&A or due diligence procedure or even an IPO, a virtual data room simplifies the process and guarantees that important information doesn’t get disclosed to unauthorised parties.
Additionally, the ability to integrate the platform with existing business applications makes it easier for parties to work on projects together. For instance, the integration of Asana lets users link tasks within Asana to relevant documents stored on VDR. This makes it easy for project managers and teams to keep track of their progress and keep track of their duties.
Choose a platform that offers features that match your requirements. A VDR should be secure by using anti-virus and malware scanning, multifactor identification and advanced encryption. It should also have an audit log that records all document and user activities, and the ability to drill into these details. It is also important to determine if a VDR partner has certifications from third parties, such as SOC, to give you peace of mind that the platform is in line with industry-leading security standards.
A user-friendly, clean interface is an additional feature that is essential. It must be accessible to the CFO and the entry-level accountant. Select a vendor that is geared towards this by offering a simple configuration and numerous options for deployment. Also, consider whether you can customise the look of your VDR by adding your logo as well as terms and conditions and general layout.