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In the past business owners would read and exchange documents with their external partners in person or flying around the globe. However, in the age of digital C-level executives require an effective and secure way to share papers with service providers, traders, and exterior parties without the risk of sensitive information being misused. This is why they use VDRs.

When choosing a VDR to use as a secure workplace Choose one that has eSignature integrated into the platform. This feature allows parties to sign NDAs, supplier agreements and merger agreements using a computer or mobile devices, while everything remains secured. This feature eliminates the need to take additional steps, like sending drafts to one another or sending them to the services of a third-party service provider for eSignatures which could increase security risks.

Additionally, look for an online data space that has comprehensive document access and restriction settings. There are also settings that block documents from being altered, copied or downloaded. Two-factor authentication is available to limit the possibility of unauthorised access. Many of these VDRs can even record the IP address, device and the location where the user is logging in from to prevent unauthorized activity.

Many top-quality VDRs also provide advanced collaboration tools, like commenting and Q&A. These tools promote collaboration but protect privacy by allowing users to edit documents in parallel and hiding the original version until they are finished. It is essential to have access for a limited time, which allows users to deactivate access at any point and minimizes the chance of leakage of information.