Understanding your business’s model and the industry you operate in as well as the most frequent kind of deal you make is vital to select the best provider of virtual datarooms. Once you have an understanding of these elements you’ll be able approach VDR providers with a better idea of the features that best aid in the process of negotiating and will meet your requirements.
Avoid VDRs which require users to download desktop software or plugins. These could slow down the user experience and could even block prospective buyers or partners from accessing the room. Furthermore, these tools are incompatible with certain systems and may impede security measures by causing a gap between the VDR and corporate network firewalls.
Look for an VDR that is able to be used on a variety of devices including desktops, mobile and tablets. This enables team members to work from any location in the world and can give more flexibility to stakeholders. Modern VDRs also allow for granular permissions to be applied to specific files and documents. Administrators can keep track of downloads, file views and edits in accordance with specific user profiles.
Look for Look for a VDR that can quickly search and index documents for quick finding of relevant information. This feature can be especially beneficial when it comes to mergers and acquisitions in which multiple parties need to look over and evaluate a variety of documents. Find a vendor who has an established track record of high uptimes and exceptional customer service. It is a good idea to look at software review sites to read real reviews about a vendor’s uptime and reliability.