02 Oct What to Look for in a VDR Software
The most effective vdr software makes it easy to use and integrates into your existing workflows. The ability to integrate preferred integrations, such as, can make the transition easier for teams used to working with tools such as Microsoft OneDrive or Slack. A user-friendly experience can increase efficiency, too. If the VDR requires an extensive learning curve to navigate it may hinder the process of making deals and create unnecessary steps.
A reliable VDR can also track who has viewed what documents. You should look for activity tracking at the page level to see what files have been seen and who has seen them, when, and for how long. You can even prevent users from printing or downloading sensitive documents. This is ideal for sensitive IP, or if you want to keep information between certain people in a secure manner.
A more efficient process for organizing is crucial for VCs as well as PE firms that are typically working with multiple reams of paperwork at a time. The right VDR will support the organization of these documents and help them move through due diligence quickly. VDRs can also be beneficial in these types of groups because they include a Q&A function that lets experts answer questions without revealing the personal information of the submitter. You should look for reports that are customizable and at-a-glance data analytics which can be easily accessed during internal meetings. These tools can make the difference between a deal which is successful or not.
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