A reputable online vdr should provide an unambiguous pricing structure and data usage allowances that include no hidden fees. It should also ensure maximum security, as per ISO 27001 certification and GDPR. It should also have an efficient synchronization engine that automatically updates content whenever the source files are moved, deleted or renamed. The built-in reporting and activity tracking allow you to monitor all actions performed on files and documents in board communication detail.
The biggest benefit of an online vdr is the peace of mind that comes from knowing your confidential information-financial statements, contracts, legal documents, intellectual property, and more-will be accessed only by authorized parties. This includes investment banks, advisers and M&A professionals who rely on VDRs to keep deals moving along and due diligence processes running smoothly. Legal firms which use them to share confidential documents with clients, law firms and with third parties for business transactions and litigation. Additionally, it includes pharmaceutical and biotech companies that utilize them to secure clinical trial and research data from disclosure or access that is not authorized.
VDRs, unlike generic file-sharing software, are designed to make it easy and efficient to share thousands documents in meticulously organized folders with third parties. Moreover, their powerful and granular permission settings security measures such as multi-factor authentication and data encryption as well as robust activity tracking and auditing capabilities ensure that only the right people are able to access the right documents.