VDR Reviews

VDRs eliminate the need send documents via email, but have the potential of getting lost in transit or being stolen. They allow firms to share business-sensitive information with external parties such as lawyers, accountants and compliance auditors in a safe online environment. This can be used to manage mergers and acquisitions, as well as joint ventures and loans.

A VDR can also be beneficial for industries that require immovable property, such as land management and real estate where many deals require copious documents. It is crucial that the folders are regularly updated and only contain the relevant documents required for the VDR. It is also important to name items clearly so that if a document requires to be located, it can be easily located and accessible.

In addition to security, a great VDR is equipped with features that make it easier for users to manage their documents and collaborate. It should, for instance it have a drag and drop function to upload files. A VDR with built-in tools for versioning and customized reports will also assist in streamlining the due diligence process. Look for vendors that offer two-factor authentication to allow you to safeguard yourself from hackers and other malicious activity. VDRs should also include backups to avoid data loss and offer advanced user permissions. This can include the ability to limit access to certain files according to IP address and the time of day. You can also alter viewing permissions for Excel documents, and many more.