The most effective vdr is simple to use and integrates seamlessly with your existing workflows. For instance, the ability to install preferred integrations can facilitate the seamless transition for teams that have grown used to working with tools such as Microsoft OneDrive or Slack. A user-friendly interface will boost efficiency, too. If the VDR requires a steep learning curve to navigate it could hinder the dealmaking process and add unnecessary steps.
A reliable VDR can also monitor who has viewed which documents. Find out if you can track activity on a page to track which files have been viewed and by whom, at what time, and for how long. You can also prevent users from printing or downloading sensitive documents. This is a great option for sensitive IP or when you need to keep your information private between an exclusive group of users.
Private equity and VC firms typically have to deal with numerous documents simultaneously, and having a a streamlined process for organization is essential to their success. The right VDR will help with the organization of these documents and aid in the process of completing due diligence quickly. VDRs are also beneficial in these types of groups because they come with a Q&A feature that lets experts answer questions without divulging the identity of the submitter. You should look for reports that are customizable and data analytics in a glance that are easily accessible during internal meetings. These capabilities can make the difference between an effective deal and a failure.