Choosing a Virtual Data Room Provider
Virtual Data Room streamline due diligence processes, facilitate effective communication and automation of tasks and are a necessary tool for any company looking to make an investment. Not all VDR providers, however, are made equally. While most provide the same basic features but they may differ dramatically in terms of pricing structure and functionality.
Choose the VDR with a robust feature set. Consider security features like malware and virus scanning, multifactor authentication and advanced encryption technology that scrambles information to protect it. Also, take into consideration whether the VDR provides at-a-glance reports that provides the high-level overview executives need to stay informed during the deal-making process.
A good VDR design includes a folder structure that resembles the traditional file system so that you can arrange information intuitively based on investor priorities. It should also have a comprehensive indexing system that makes it simple to locate files. It is essential to keep in mind that as your project evolves, you may have to change the content of your data room. Look for the option to change the folder structure and the names of documents as well as the ability to revoke access rights instantly should you need to.
The best VDR providers allow users to connect to various devices, including desktops, laptops and mobile phones. They also have an interface that is user-friendly and simple to navigate. They should also let you track which users are logging into or out, what documents they’re looking at and what documents they have downloaded.