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VDR software lets companies share confidential documents with external parties, for example, potential clients or investors. This is especially beneficial in the legal field, where a lot of procedures require the sharing of sensitive documents. Whether it’s an M&A or due diligence process or even an IPO using a virtual data space simplifies the process, and also ensures that crucial information doesn’t get accessible to anyone else.
The ability to integrate the platform with existing business applications makes it easier for both parties to collaborate on projects. For instance the integration with Asana lets users link tasks within Asana with the relevant documents on the VDR platform. This lets project managers and teams to stay informed of the progress of their projects, as well as their responsibilities.
To find the best virtual data room, look for a platform with features that will meet your needs. A VDR must be secure with anti-virus and malware scanning, multifactor identification and advanced encryption. In the ideal scenario, it will include an audit log which records every document and user activity and the ability to examine the specifics. Check if the VDR partner has certifications from third parties like SOC to ensure that the platform conforms to industry-leading standards.
Another essential feature is a clean, intuitive interface that’s just as accessible to the CFO as it is for an beginning accountant. Select a vendor that focuses on this by offering a simple setup and a wide range of deployment options. Make sure that your VDR can be customized with your logo, terms and condition and general layout.