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VDR software permits companies to share confidential documents externally with people like prospective investors or clients. This is particularly beneficial in the legal field, where a lot of procedures require sensitive document sharing. Virtual data rooms can be useful for due diligence processes, M&As fundraising, IPOs, or other fundraising. They streamline the process and ensure that crucial information is not shared with non-authorized third parties.
The ability to integrate the platform with existing business applications makes it easy for different parties to collaborate on projects. For example, the integration with Asana lets users connect tasks from Asana with relevant documents stored on the VDR platform. This helps project managers as well as teams stay on top of the progress of their projects and responsibilities.
To find the best virtual data room, look for a platform that offers features that meet your requirements. A VDR must be secured with anti-virus and malware scanning, multifactor authentication, and advanced encryption. It should also have an audit log that documents all user and document actions, as well as the ability to access these specifics. Verify whether the VDR partner has third-party certifications such as SOC to ensure that the platform conforms to industry-leading standards.
Another important feature is a simple, clear interface that is as easy for the CFO as it is for an beginner accountant. Choose a provider that focuses on this by offering a simple configuration and a wide range of deployment options. Make sure that your VDR can be customized with your logo, terms and conditions and the general layout.