Virtual Data Room streamline due diligence processes, facilitate communication and automation of tasks which makes them an essential tool for any company seeking an investment. However not all VDR providers are made identical. Although most VDR providers offer the identical basic features, they may differ in terms of pricing structure and features.
Choose a VDR that has a robust feature set. Look for security features like virus and malware scanning, multifactor authentication and advanced encryption technology that encrypts information to keep it private. Also, think about whether the VDR provides an at-a glance report which provides a broad overview C-suite execs need to be informed throughout the dealmaking process.
A good VDR design includes an organization structure that is similar to a traditional file system, so that you can arrange information efficiently based upon the priorities of investors. It should also include an extensive indexing system that makes it easy to find files. You should keep in mind that your data rooms may require updating as the project advances. Check if you can change the structure of the folders, documents names, and remove access permissions immediately if needed.
The top VDR providers offer the flexibility to sign in on a variety of devices such as laptops, desktops and mobile phones. They also have an interface that is user-friendly and easy to navigate. In addition, they should allow you to keep track of who’s logging in and out, what documents they’re looking at and the ones they’ve downloaded.
