When it comes time to select the most effective virtual data room, the choice of vendors largely comes down to the extent to which their features line to your needs. You should look for a VDR that is equipped with robust reporting capabilities. It should also provide user activity audit logs, and the ability to transform these reports into customized presentations. A dependable customer support service that provides VDR training for technology is an added benefit. Some providers of virtual data rooms offer a trial to prospective buyers to experience the software before they commit.
One of the most popular use scenarios for virtual data rooms is due diligence. Both the sell-side and buy-side must review documents in a safe environment. A VDR can offer this service within days, instead of months.
When evaluating virtual data rooms, look for a company that allows users to upload documents and arrange them into folders by using an intuitive drag-and-drop interface. Make sure that the data room is equipped with a powerful search function which detects both complete or partial matches, as well as the filtering of documents by type, status and watching activity. Make sure the VDR supports dynamic watermarks to prevent unauthorized downloads and printing.
A reliable VDR is one that has security with a streamlined, user-friendly interface and 24/7 access for authorized users. A reputable virtual data room provider will also provide a range of services to improve the efficiency of your company’s operational processes. These include education and consulting to streamline RFPs and audit and compliance functions, as well as board reporting.
