Virtual document safe storage is crucial for many companies. A VDR will make it much easier to share documents, whether with investors, service providers or even internal team members. It also helps to prevent data leaks and data breaches. This is especially important for businesses in traditionally paper-based industries, such as accounting firms and law firms.
What is a virtual document?
A virtual document is one that contains other documents. This allows the file structure of the document to be replicated regardless of how different the documents are. A report, for example could be written in Word however it may also contain tables in Excel as well as the PowerPoint presentation as an appendix. A virtual document permits the document to be broken down into heterogeneous components that can then be managed in the same way as other files.
Components can be removed or added in isolation of the parent document. This means that changes made to the component files will not automatically update the version tree of the parent document. If the entire assembly is frozen, the component files won’t be updated automatically.
Documents can have a virtual watermark that is unique that allows anyone to recognize who has viewed, used or manipulated the document. This ensures that, if documents are leaked and accessed by the wrongdoer, the culprit can be identified and penalized accordingly.