In the past, business owners would review and exchange documents with external partners via meetings in person or flying around the globe. In the digital age, C-level executives need an effective and secure method to share papers with service providers, traders, and exterior parties without risking sensitive info getting into the wrong hands. That's why they use VDRs.

When selecting the VDR as a safe work environment be sure to select one that has built-in eSignature natively within the platform. This feature lets parties sign NDAs and Supplier Agreements from a desktop or mobile device, while maintaining security. In contrast to emailing drafts backwards or forwards or sending them via an eSignature service from a third party that creates additional security risks, this feature eradicates the necessity for extra steps and makes the entire process much more efficient.

Also, you should select an online dataroom that comes with a wide range of document permissions and restrictions. These include view only settings that block documents from being edited, copied, or downloaded, as well as two-factor authentication to minimize the possibility of unauthorized access. Many of these VDRs are able to record the IP address and device that a user logs in from, along with their location. This prevents unauthorized activity.

Additionally, a lot of top-quality VDRs offer advanced collaboration features including commenting and Q&A functions. These tools encourage collaboration, but protect privacy by allowing users to edit documents in parallel and hide the original version until they finish. Time-limited access is also important, allowing users to revoke their access at any moment and reducing the risk of leaks of data.