A virtual dataroom can provide a secure platform for sharing documents. It can be used to keep documents for a lengthy time, and also allows users to work on documents simultaneously. It also has security features like password protection, audit logs, and control of file versions.
Typically, companies that are involved in M&A due diligence use a VDR. This can involve sharing many sensitive data with the other party, and it’s important to keep track of who has accessed what data and when. A VDR with a solid management system and retention policy will protect against data breaches and quickly revoke access of people who no longer require it.
Other important features include a powerful search engine that can find details within large documents, and show snippets of text visit our website from those documents when displaying results from searches. This allows users to quickly identify the correct file and open them. Document annotations let multiple users add notes and comments to the same document. This makes it easy to share these annotations with other users.
Another feature that is useful is the ability to swiftly redact a single image, paragraph or portion of a document so that private information is not visible to anyone who doesn’t require to see it. VDRs also allow for automatic watermarks to display the user’s name, IP address and date/time of when the document was viewed or downloaded. This is particularly helpful if you have to comply with regulatory requirements like HIPAA or GDPR.