For start-up companies, and even larger companies that participate in fundraising, making use of a virtual data space (VDR) can help facilitate the exchange of sensitive data that usually occurs during this stage. Teams of the leadership on both sides of a deal can feel more confident knowing that the VDR can allow them to collaborate on documents and share files, as well as track the activities of users in detail.
Be aware of the security features of a VDR before deciding on one. Multifactor authentication, advanced encryption and robust virus and malware scanning ensure that the uploaded files remain secure and private. Look for a VDR that also includes customizable reporting and real-time analytics, which will provide the behind the scenes intelligence executives in the C-suite require to keep track of the status of their ongoing projects.
A VDR’s ability to be easily imported from existing applications like Google Drive, OneDrive and Box is an additional feature. If so, the process of importing data is a lot more efficient and less time-consuming than trying to integrate a new solution into an existing workflow.
It’s essential for any company with a presence in the shipping industry to have a reliable VDR solution that’s compatible with its fleet of vessels and plans for the future. For instance, ship owners who operate a fleet of ro-ro passenger ships must be capable of communicating policy updates as well as future strategy plans and input from franchisees within a collaborative VDR environment. These data are used on a daily basis and is often sensitive. Therefore security features that guarantee privacy, control and transparency are vital.
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