Virtual document storage is crucial to many companies. A VDR will make it easier to share documents with investors, service providers, or even internal team members. It will also stop data leaks and breaches. This is particularly important for businesses in traditionally paper-based industries, such as accounting and law firms.
What is a virtual document?
A virtual document is one which contains other documents (components or children). This allows the file structure of the documents to be replicated regardless of how heterogeneous the documents are. For example, a report can be written in Word however, it could also include tables in Excel and an Excel or PowerPoint presentation as an appendix. A virtual document allows the logical document to be broken down into diverse components that can be handled in the same manner as other files.
Components of a virtual document can be added or removed from the parent document. This means that any changes made to the component files aren’t automatically changed in the parent document’s version tree. If the entire assembly is frozen, the components aren’t automatically updated.
Documents can be watermarked using a unique virtual stamp which allows to identify anyone who looks at or interacts with the document. This means that if documents are released and accessed by the wrongdoer, the culprit can be tracked and punished accordingly.