The best vdr is easy to use and integrates seamlessly with your existing workflows. For example, the ability to install preferred integrations can facilitate the seamless transition for teams that are familiar with working with tools like Microsoft OneDrive or Slack. An intuitive user experience will enhance efficiency, as well. If a VDR has an extensive learning curve it could hinder the deal-making process by adding unnecessary steps.
A quality VDR can also keep track of who has viewed what documents. Look for page-level activity tracking so that you can track the documents that have been reviewed and by whom, what time, and best data room providers for how long. You can even stop users from printing or downloading sensitive files. This is great for sensitive IP or when you need to protect information from being shared with an exclusive group of people.
A streamlined organization process is vital for VCs as well as PE firms, who are often dealing with reams at a time. The right VDR can help organize the reams of paperwork and speedily move them through due diligence. Other features that assist VDRs work for these groups include a central Q&A module and a feature that routes questions to experts and permits them to share their answers without disclosing the data submitted by the submitter’s PII. You can find customizable reports and information analytics in a single glance that can be accessed easily during internal meetings. These features can be the difference between a successful deal and an unsuccessful one.