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VDR review is a process that evaluates a vendor’s capabilities and features. It requires companies to analyze their requirements for secure collaboration and sharing of files and to compare those requirements with the capabilities of the virtual data room vendor. It could help businesses save time and money if the right VDR solution is chosen for the project. A vdr audit can help identify risks and issues before making a decision to implement a solution.
A VDR is software-based repository which lets organizations securely upload and share sensitive data. It is a useful tool for M&A transactions and other kinds of deal-making, allowing investment banks as well as law firms and other organizations to work together and exchange files without the risk of disclosure or exposure. A VDR streamlines the process of managing documents by combining security, speed and convenience.
When choosing a VDR, look for one that has built-in tools to control version that monitor changes and allow administrators to set guidelines for file names storage structure, file name, and access rights. Audit trails are comprehensive and provide a clear view of the user’s activities. They also reveal who viewed what files and when. Mobile access allows due diligence to be conducted on the move, while an adjustable dashboard provides an overview of the most recent activities.
In addition the VDR must provide a simple and intuitive interface with advanced features for collaborative work. Look for features such as full-text search that automatically indexes, efficient workflow engines to assign tasks, live linking documents and granular analytics to gain insights into the progress of projects. Find a provider that provides flexible pricing based upon the amount of data that is stored, the number of users, as well as page views.