A VDR is a device that lets anyone work effectively and safely whether they are C-level executives involved in M&A transactions, HR departments in charge of maintaining employee records or internal employees that need to share data and files with contractors. This is particularly applicable to companies whose whole existence and success is dependent on the protection of their important intellectual property (IP) and sensitive data.

The best VDR and document management software provides a powerful combination of features that make the due diligence and deal-making process easy and efficient. These include indexing of documents, search capabilities based on metadata and text, and intuitive tools for creating and managing documents and folders. This includes auto-renumbering and infinite scrolling as well as favorites. The features you should consider are an activity tracker that has the ability to create versions and a robust document tracker.

A well-designed folder structure with consistent naming and access permissions are all crucial in ensuring that a task or deal goes smoothly. A good VDR lets you set granular permissions based on roles and responsibilities for files and folders. Additionally, the VDR will provide data on who has read or downloaded each document.

The best VDRs will ensure that all sensitive data is secured while it is stored in storage, and while Full Report in transit. This is essential to ensure compliance with data privacy regulations and protecting against any unauthorized access.