VDR portals are web-connected secured databases for documents and data files related to legal transactions and procedures. They permit a person to look over and review records via an extranet connection managed by the service provider. They offer a range of features designed to cut the cost of supervision and minimize risks associated with human error.
The most reliable VDRs offer page-level tracking that shows who saw what, when and how. They also include a tagging system to make it easier to arrange documents. They may also include redaction and fence get functions that blacks away parts of info to ensure personally-identifiable information stays private and prevents screenshotting. These features are typically valuable just for investment banking processes like IPOs and capital raising, which typically require large volumes of data writing.
iDeals offers a range of standard and advanced features that can be used by all sizes of business. Drag-and-drop features make it easier to manage uploading files, and a bulk upload capability decreases the amount of manual work required. The VDR also allows for custom permission settings and an encrypted API to allow you to integrate it into workflows already in place for your business. It also supports single sign-on to streamline user authentication and reduce IT costs.
Legal firms can easily rely on VDRs to provide an centralized platform for the review of confidential documents during the due diligence process. They also permit lawyers to review the papers on any device that has internet access. This allows lawyers to make decisions and complete deals faster.