Selecting a VDR As Secure Work Environment

In the past the business owner would review and exchange documents with external partners via meetings in person or flying across the globe. In the age of digital, C level executives need to be able to securely and efficiently share documents with traders service providers and other outside parties without having to worry about sensitive information being in the wrong hands. This is why they choose VDRs.

When choosing the VDR as a safe work environment make sure you choose one with built-in eSignature natively within the platform. This feature allows parties to sign NDAs, supplier agreements and merger agreements on a desktop or mobile devices, while the entire process remains secured. Unlike emailing drafts backwards and forwards or sending them via an eSignature provider from a third party, which increases security risks, this feature eliminates the necessity for extra steps and makes the whole process considerably more efficient.

Also, choose an online dataroom that comes with a wide range of document permissions and restrictions. There are also settings that block documents from being altered, copied or downloaded. Two-factor authentication is also available to prevent the possibility of access by unauthorised persons. Many of these VDRs can also record the IP address, device and location that the user is logging in from to prevent unauthorized activity.

In addition, many top-notch VDRs come with advanced collaboration features including commenting and Q&A functions. These tools encourage collaboration, but ensure privacy by allowing users to edit documents in parallel and hide the original version until the document is completed. It is important to have access for a limited time, which allows users to cancel access at any time and reduces the chance of leakage of information.

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