https://clickvdr.com/secure-document-sharing-strategies-for-the-investments-industry/
A virtual data space provides secure sharing of files. It is able to keep documents for a long time and allows users to work on documents at the same time. It also offers security features like password protection, audit logs, and control of file versions.
Typically, companies involved in M&A due diligence use a VDR. This may involve sharing lots of sensitive information with the other party and it is important to be able to track who has accessed what data and when. A VDR with a solid management system and retention policy can assist in preventing data breaches, and quickly revoke access of users who no longer require it.
Other important features include an efficient search engine that will locate information within large documents and show snippets of text from those documents when displaying results from a search. This allows users to quickly identify the correct file and open them. Document annotations let multiple users add notes and comments to the same document. This makes it easy to share these annotations with other users.
Another benefit is the ability to swiftly cut off a single picture, paragraph or a part of a document so that private information is not displayed to anyone who doesn’t require to see it. VDRs can also have automatic watermarks that display the user’s name as well as the IP address, date, and time when documents are viewed or downloaded. This is particularly helpful when you need to adhere to regulatory requirements such as HIPAA or GDPR.