Why Businesses Need a VDR Database
A VDR database is a tool that protects sensitive files and data from unauthorized access. It is a vital component in complex business transactions and mission-critical processes that require the secure and efficient sharing of thousands of documents. While file-sharing services that are generic like Dropbox or Google Drive may seem like similar options, they are not equipped with the specific capabilities and security features needed by professionals for these processes. A VDR database is the best option for companies who want to share confidential information with several counterparts.
Investment banks depend heavily on a VDR to streamline due diligence and keep M&A transactions moving. These processes require large quantities of documents which must be shared quickly and securely with various parties, including investors, regulators, and potential buyers. The capability of a VDR to create folder levels of access and set granular user permissions makes it a great choice for this type of use.
Life science and technology companies are huge users of VDRs to share confidential intellectual property chemical formulations, molecules and chemical formulas with external partners during licensing, fundraising, and clinical trials. These types of scenarios are ideal for VDRs since they can securely store large amounts of data and provide reports that can be customized.
A good VDR can provide advanced security features such as encryption and two-factor verification. It should also allow users to log in to multiple applications using one password. This helps prevent cybercriminals from getting access to multiple accounts using compromised login credentials. It should also provide an intuitive user interface, that allows for quick upload and download.