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Document management is a crucial aspect of any business. Documents that are well-organized will save your company as well as its customers and partners a lot of hours and also money.
However, effective documentation isn’t easy. The traditional method of sifting through folders and files can be long and time-consuming. Fortunately, VDR and document management can streamline the process.
VDRs are designed to help businesses to solve many of their common document management issues. They are equipped with features that let users interact with documents and files through a mobile app or a web browser, making it easier for third parties and project teams to work on due diligence and proposals.
Modern VDRs combine encryption protocols to protect sensitive information both during transportation and when the data is in storage. Administrators are also able to restrict access rights so that only authorized individuals have the ability to view or download documents. VDRs also allow administrators to deactivate printing copy/paste, saving, and printing features in order to control the dissemination of information.
A great VDR platform should offer numerous notifications to inform users of changes or activities within the repository. Users can customize their notification preferences according to their requirements and roles. They should also support digital watermarking, aswell with activity logs to identify access that is not authorized. This will improve transparency and accountability throughout the due diligence process. A VDR will allow employees to edit documents in real-time which will eliminate the need for emails and meetings.
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