A vdr can be described as the black box of an aircraft. It can store a range of data that could be retrieved in the event of an incident that occurs on the sea. The system is made up of a device that collects data with sensors onboard, and a capsule that protects the data. It is designed to withstand fire as well as shock, pressure from deep sea, and penetration. It is equipped with a satellite-locatable system of communication that is connected to the ship’s Emergency Position Reporting System (EPIRB).
IMO regulations stipulate that the system should be equipped with a Concentrator which is able to process and decrypt data from sensors, and an end-to-end recording medium which stores the data in a fixed capsule that is able to withstand a catastrophic maritime accident. It should database access control best practices be able to conduct tests of its performance at any time, either annually or following maintenance or repair work on the VDR or signal sources that provide data to it.
A quality VDR should have a mobile-first style to enable parties to sign in and access documents on desktops, laptops tablets and mobile devices and still retain the fundamental functionality. Make sure the software you choose to use is intuitive as this will speed up due diligence and deal-making.
You should look for the VDR with monitoring of page-level user activity, which can create audit trails and provide business insights on document review process. For example, if you notice that HR and legal due diligence teams are spending a lot of their time looking over documents on a particular topic you can identify any liability issues early and address them promptly.
