During major business occasions like tenders, mergers and acquisitions, or capital raising, it is crucial that all stakeholders get access to the entire set of information. Sorting through tens or thousands of documents is a time-consuming task and poses security risk. There’s an easy solution to this problem: the virtual data space.
However, not all VDRs are created in the same way. Many of the file-sharing applications available on the market weren’t designed for enterprise use and do not have advanced security, collaboration, and other features.
Some of these free file sharing tools have been compromised and are at risk of being infected by viruses, spyware, and malware. It is crucial to choose an effective and secure solution for your needs, such as a VDR that has a proven track record.
The top online VDRs provide granular document/digital data access control for users based on their particular role in the project. This helps ensure that information is only shared on a strictly need-to-know basis, reducing the risk of leaks from data that are not authorized. Additionally, advanced features such as encryption is box secure of all data transfers MFA, user login monitoring that checks the IP address and device help to minimize the risk of unauthorized access, by providing an additional layer of security to the platform.
Other benefits that a top-quality VDR can provide include the ability to quickly browse and locate files by using the search function and the capability to drag and drop several folders of documents at once into the platform. Also, the ability observe which files are viewed most frequently can be an important insight into what your customers and prospects would like to see in the room, which can assist in closing the deal by catering to their preferences.