You can set up security policies in the VDR to require two forms identification (such a password and a one-time code transmitted via mobile device) in order to permit someone access your files. VDRs let you allow users to have their permissions expire after a specific number of days in accordance with the date/time the files were uploaded. You can also choose to alert users when their access to the files is set expire.
Due diligence is the most frequent use of a VDR. This is the situation when multiple parties are required to see confidential documents from a company. These would be impossible to access without a VDR’s secure online environment. Other business processes that benefit from a VDR include raising capital or reorganizing, as well as internal audits.
VDRs are also very popular with venture capitalists and private equity firms who typically manage a large volume of deals at once that require sharing massive amounts of data. The document management and indexing capabilities of a VDR enable these users to quickly find the information they require and to quickly look over the information in a secure environment.
Auditors and regulators are frequently reviewing companies in the growth phase to make sure they are doing all «t»s and tying all «i». A virtual data space helps companies keep their information in order, accessible and secure in a way that allows it to be easily reviewed and audited.