We are introducing new security features for non-PDF files shared in the FORDATA Virtual Data Room system. Now we protect as many as 30 of the most popular document formats just like PDFs – that’s the most in the industry! This means even greater security and control of documents shared in the VDR. We also made improvements in the process of uploading documents and in the UX Uploader – including clearer layouts and a new report on uploading files.
SECURITY - Full protection of 30 popular file formats
FORDATA Secure Viewer now protects both PDF and non-PDF files. Therefore, you do not need to convert files to PDF if you want to additionally protect them – in fact, the FORDATA VDR system will do it for you! These are the most advanced security features available on the market and include:
Reporting activity on files
The supported file types which now get the highest level of protection:
Full control over who can see what and for how long - regardless of the format
Now both PDFs and the 30 of the most popular file formats are protected against saving to disk or printing. Security can be applied at the level of individual files or applied with one click to all documents in the VDR, or to all documents located in a given folder. Access and blocking of viewing, saving or printing the file can be changed or withdrawn at any time, which gives the Administrator even more control over the shared documents.
The changes also help save time and increase work flexibility. Thanks to this, you can transfer all transactional or project documentation to VDR and grant precise permissions for each individual file. In addition, thanks to the activity reports, you can check who and for how long was viewing a given document.
But the new changes in the FORDATA VDR system are not only security and control over more file formats! It is also…
CONVENIENCE - Greater functionality and comfort for every user
We present to you the new UX panel for uploading files (the so-called FORDATA Uploader). With the introduction of the protection of non-PDF files comes also the increased intuitiveness of the uploading panel – now you can add files faster and more conveniently. The Uploader view itself is more readable and user-friendly. You can also see the progress of the loading process in a clearer way (you can also cancel or pause it at any time). Responding to the expectations of our customers, we have also added two new functionalities:
The ability to set preferences for loading files with the same names (so-called duplicates)
Now the Administrator can decide whether files with the same names should overwrite files already loaded into VDR, or whether the system has to skip these files.
Loading report in Excel
The report is displayed each time files are loaded and can always be exported to an Excel file. The report gives the Administrator peace of mind, especially when adding a large number of files at once and e.g. leaving the loading process overnight. After the end of the process, the Administrator will always be able to see a readable report in which the loaded and unloaded files will be listed (along with an indication of the cause and original location of the file on the user's computer, so that it can be easily found, repaired - if the file was damaged - and loaded again). Thanks to this, you can make sure that all the information that was to be made available in the VDR will be there. It is a specific element of quality control, so important in M&A transactions.
Who will especially benefit from the new dimension of safety and comfort?
PDF files constitute the vast majority of documentation made available in the FORDATA system by Administrators. Non-PDF files account for about 10-15% of all information placed in the VDR. However, these are often some of the most sensitive documents, such as accounting or budget data in xlsx format or pptx presentations related to the development strategy or strategic plans. The possibility of securing them on the PDF level is certainly a benefit to the companies involved in:
Mergers and Acquisitions
On the other hand, there are formats whose opening requires special software. An example of this is the Autocad (dwg, dvx) files popular in the real estate industry, which present technical plans or maps.
The fact that they will be automatically converted by VDR to PDF format increases the availability of information for the recipient – now investors will not have to physically view maps and technical plans, they will be able to do it conveniently from their offices. In turn, the developer will be sure that this information is protected to the fullest.
We keep our fingers crossed for your next safely and efficiently realized investments!
Protecting the biggest number of file types in the industry