Why Businesses Need a VDR Database
A VDR database guards sensitive data and files from unauthorized access. It is an essential element in complex business transactions as well as mission-critical processes that require secure efficient sharing of thousands of documents. While services like Dropbox or Google Drive seem similar, they lack the security and specific features needed by professionals for these kinds of processes. This makes VDR databases VDR database the ideal choice for businesses that need to share confidential information with several counterparties.
Investment banks rely on a VDR database to keep M&A deals going and to streamline due diligence for capital raising, IPOs and mergers. These processes usually involve massive volumes of documentation that must be shared quickly and safely with different parties including regulators, investors and potential buyers. This is the ideal use-case for a VDR because it allows users to set up levels of permission for folders as well as individual user rights.
Life science and technology companies utilize VDRs extensively to securely share intellectual property, chemical formulas and molecules with third parties during fundraising, licensing and clinical trials. The ability of a VDR to safely store huge amounts of data and provide customized reporting makes it a perfect option for these scenarios.
A good VDR should offer advanced security features, such as encryption and two-factor authentication. It should also have single sign-on that allows users to sign in to multiple applications with a single set of credentials. It also prevents cybercriminals from using compromised login information to gain access to multiple accounts. It should also provide an user interface that is intuitive and lets users quickly download documents and upload.