August 29th, 2023
Author: Simon Schaffer
How to Set Up a Virtual Data Room
The first thing you should look for in a virtual data space is whether it is able to be customized to your company’s specific workflow. Many providers offer highly flexible interfaces that allow you integrate your company’s business processes and IT systems. They have features such as watermarks and robust permission levels to prevent leakage of documents.
Another important thing to consider is the kind of documents you’ll be using the VDR for. For example, if you are planning an M&A transaction, there will likely be a lot of documents that pertain to due diligence such as research results, patented technologies and more. These documents require advanced levels of protection and are particularly vulnerable to unauthorized downloads and copies. The most secure VDRs let you control access right down to the individual file folder level.
Also, if you’re planning to use the VDR to share sensitive data with third-party partners, it’s worth checking whether the vendor supports electronic signatures. This will save your time and money by removing the need for physical signatures.
Finally, it’s worth examining the storage/file size/file type limitations that the virtual data room has to offer and its overall capacity. You don’t wish to be amazed by sudden limitations on the size of the files you can upload or download.
The utopian dreams of Russian-style cybernetic communism could only be turned into everyday reality within the made-in-the-USA global village.
