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A VDR database is a safe storage space for business documents that is that are used to speed up the due diligence process for different types of transactions. These tools are a great alternative to file sharing software which may not provide the security required for these kinds of transactions. Using the right solution can boost efficiency and increase the likelihood of success during any deal.

When you are choosing a VDR for your business Look for one that has advanced features like watermarking, encryption with 256 bits, multifactor authentication, and invitation delays to secure access. You should also look for features that make it easy to organize documents into folders and to set up granular user permissions. These features allow you to limit who can print, save or screen certain files and ensure that confidential information isn’t leaked.

Investment banks and advisors depend on VDRs to share large files during M&A due diligence, joint ventures and fundraising. These vital processes require collaboration and the capability to manage the data being shared outside of the firewall. Choose a VDR that has flexible pricing plans and can grow with your business. It should also have numerous integration options to improve workflow.

Pharmaceutical and biotech companies typically use VDRs to share their highly confidential formulations, molecules and patents with external partners during licensing and clinical trial processes. You should look for a VDR with granular folder level permissions and document analytics to track the activity that provides accountability and transparency. The best VDR will also help you simplify regulatory requirements, for example by allowing users the possibility of downloading audit logs and other reports.