In the world of investment banking, processes like capital raising, M&A and IPOs demand copious amounts of data sharing that a VDR is uniquely equipped to handle. However, not all virtual data rooms are created equal – be sure to choose one that offers click reference security, which includes watermarking, multifactor authentication, invitation delays and control of permissions to prevent access from unauthorized users. A modern VDR like Venue, also prioritizes data encryption to ensure that, even if there is a breach, the information remains unreadable by any unauthorized parties.
A well-organized document collection in a VDR helps stakeholders find documents quickly, which can assist in the due diligence process. However maintaining the VDR organized over time requires regular maintenance to ensure that folder structure and naming conventions remain consistent. Regularly backing up files is important to avoid accidental deletion or technical issues. Make sure to restrict access to sensitive data by allowing access through secure networks, not public Wi-Fi.
A VDR can be configured to prevent printing copies, saving, copy/paste and screen shots for specific documents, or even for a whole project. This feature can reduce the possibility of a user sneakily taking a picture of confidential information or peeking over the shoulder of a person, while decreasing the burden on the support staff. In addition, a modern VDR can be set to restrict access by time and IP address to further protect against unauthorised activities.