Traditionally business owners would conduct due diligence on their partners through flying around the world or gathering in a physical space to review and exchange documentation. In the digital age, C-level executives need a secure and efficient way to share papers with traders, service providers as well as other outside parties without risking sensitive info being misused. VDRs are the solution.

When selecting when choosing a VDR to use for a secure working environment, choose one that has eSignature integrated into the platform. This feature lets parties sign NDAs and agreements with suppliers from either a laptop or desktop while ensuring security. This feature eliminates the need to take additional steps, such as sending drafts to one another or sending them to the services of a third-party service provider for eSignatures that could add additional security risk.

Also, choose a virtual dataroom that provides a wide range of document restrictions and permissions. There are also settings that prevent documents from being edited or copied, or downloaded. Two-factor authentication is available to prevent the possibility of unauthorised access. Many of these VDRs even keep track of the IP address, device and the location where the user is logging in from to prevent unauthorized activity.

A lot of top-quality VDRs also offer advanced collaboration tools like commenting and Q&A. These tools facilitate collaboration while preserving privacy by allowing users to edit documents simultaneously and hiding the original document until the document is completed. It is essential to have access for a limited time which permits users to deactivate access at any moment and minimizes the risk of leakage of information.