A VDR database stores and shares reams of confidential documents in a secure way that is easily accessible by the parties to an agreement, or investors. Companies operating in the private equity or venture capital sector can efficiently share documents for a variety of deals, instead of having to go through a plethora of paperwork.

VDR databases can also be a valuable tool for ship operators, who use them to assess the performance of crew training and equipment. They can also be used to record and analyze ‘near miss incidents, for example, to study lessons or evaluate the company’s policies.

The Oil Companies International Marine Forum (OCIMF) has suggested that owners and managers of vessels utilize VDR data proactively. This could lead to an increase in safety as well as a reduction in accidents.

The proactive use of VDR data has many advantages that include:

The analysis of data stored on VDRs is a standard element of every ship’s operation, and should be performed by a safety officer who has been trained. The information should be accessible for the whole fleet and a central system must be in place that can enable the recording and analysis of all such information.

There are many different types of VDRs available for use on ships www.vdrdatabase.info/best-time-tracking-and-billing-software-for-law-firms/. Some VDRs are more cost-effective while others are less detailed. It is best to check the specs of any VDR you are thinking about purchasing.