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Why Businesses Need a VDR Database

Why Businesses Need a VDR Database

A VDR database is a tool for protecting sensitive files and data from unauthorized access. It is a vital component in complex business transactions and essential processes that require secure and efficient sharing of thousands of documents. While the file-sharing platforms like Dropbox or Google Drive may seem like comparable options, they don’t have the advanced capabilities and security features demanded by professionals to handle these processes. This makes the VDR database the best choice for companies that must share confidential information with multiple counterparties.

Investment banks depend heavily on the VDR to simplify due diligence and keep M&A transactions moving. These processes involve large amounts of documents that have to be shared quickly and safely with different parties, such as investors, regulators, and potential buyers. This use case is ideal for VDRs because it allows you to set up folder levels of permission and VDR because it permits you to establish permission levels for folders and individual user rights.

Life science and technology companies are big users of VDRs to securely share intellectual property chemical formulations, molecules and chemical formulas with outside partners during licensing, fundraising, and clinical trials. These use cases are ideal for VDRs as they can securely store large amounts data and offer reports that are customizable.

A good VDR should have advanced security features such as encryption and two-factor verification. It should also offer single sign-on that allows users to log into multiple applications using a single set of credentials, and protects cybercriminals from using compromised login details to gain access to multiple accounts. It should also feature an intuitive user interface which allows for quick document upload and download.

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