VDRs are specially suited to the processes of sharing data that are required in investment banking. This includes capital raising, M&A, and IPOs. However, not all virtual data rooms are identically. Ensure you choose one that provides click reference security, such as multifactor authentication, watermarking, permissions control and invitation delays to prevent access from unauthorized users. A modern VDR, such as Venue additionally prioritizes encryption of data to ensure that if the breach does occur, the information remains unreadable by anyone else.
Organising documents in a VDR allows stakeholders to locate files quickly, which can help expedite the due diligence process. To keep the VDR organized, it is important to regularly maintain the VDR to ensure consistency with the structure of the folder and naming conventions. It's also important to periodically backup your files to avoid accidental deletion and technical failure. Make sure to restrict access to sensitive data by only allowing access via secure networks, rather than public Wi-Fi.
A VDR can be configured to prevent printing, saving, copy/paste, and screen shots on particular documents, or even for a whole project. This feature can reduce the risk of someone sneakily taking a picture of confidential information or looking over the shoulder of a person, while reducing the burden on a busy support team. In addition, a modern VDR can be set to limit access based on time and IP address to further safeguard against any unauthorized activity.