Advantages of Using a Virtual Document Repository

A vdr allows authorized users to search and access, as well as interact with documents and files within an online repository. These collaboration tools can streamline document sharing and cut down on the time it takes for stakeholders to look over information in a traditional context. VDRs also provide granular permissions that allow administrators to control who is able to view, print, and download specific documents. Administrators are also able to revoke access at any time.

A vdr’s specialized capabilities have made it essential in supporting business transactions and mission-critical processes that require secure document sharing. Some examples include:

Manufacturing – Manufacturing companies can make use of a virtual document repository to facilitate the sharing of development and design documentation with clients, investors and suppliers. By switching away from emailing attachments to documents, which typically result in multiple versions of the same document, and instead using a vdr for real-time editing, manufacturing teams are able to improve efficiency and decrease the risk of errors.

M&A Due diligence for M&A M&A due diligence involves extensive document sharing between sellers and buyers. With 24/7 access VDRs can reduce scheduling conflicts and help facilitate negotiations. Collaboration tools in a vdr also permit teams to edit proposals in real-time.

It is important to select a vdr that offers better security features when compared to generic software for file sharing. A vdr, for instance will have features such as fence view, built in redaction, granular access rights and remote shred to help ensure that confidential data remains secure. It’s also a good idea look up user reviews on third-party sites to get a better understanding of a vdr’s security and support.

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