A VDR database protects sensitive data and files from unauthorised access. It is a crucial element of complex business transactions as well as mission-critical processes that require the safe and efficient sharing of thousands of documents. While services like Dropbox or Google Drive seem similar, they do not have the security and specific features required by professionals to conduct these operations. This makes a VDR database the best option for businesses that need to share confidential information with multiple counterparties.
Investment banks depend on a VDR database to keep M&A deals moving forward and simplify due diligence for capital raising, IPOs and mergers. These processes involve large quantities of documents that need to be shared quickly and securely with different parties, such as investors, regulators, and potential buyers. This is the ideal use-case for VDRs because it allows you to set up folder levels of permission and VDR because it allows users to set up permission levels for folders and granular user rights.
Life science and technology companies are major users of VDRs to safely share intellectual property molecules, chemical formulations and chemical formulas with outside partners during licensing, fundraising, and clinical trials. A VDR’s ability to securely store massive quantities of data and offer customized reports makes it the perfect choice for these types of scenarios.
A good VDR will have advanced security features like encryption and two-factor verification. It should also allow single sign-on, which permits users to sign in to multiple applications with one account, and protects cybercriminals from using compromised login information to gain access to multiple accounts. It should also have an intuitive user interface, permitting quick upload of documents and download.