02 Oct What to Look for in a VDR Software
The best vdrs are simple to use and can be integrated with your existing workflows. The capability to install preferred integrations, for example could help smooth the transition for teams that are accustomed to working with tools like Microsoft OneDrive or Slack. A user-friendly interface is also able to increase efficiency. If a VDR requires an extensive learning curve to navigate, it could hamper the process of making deals and add unnecessary steps.
A good VDR also allows you to track who has viewed what documents. You should look for activity tracking at the page level to see the files that have been viewed and by whom, what time, and for how long. You can even prevent users printing or downloading sensitive files. This is ideal for sensitive IP or when you want to protect information from being shared with an exclusive group of users.
A simple and efficient organization process is essential for VCs and PE firms that are typically dealing with large volumes of paperwork at a time. The right VDR can help you organize these reams of documents and help them move quickly through due diligence. VDRs are also useful for these groups as they have a Q&A module that lets experts answer questions without revealing details about the person who submitted the question. You should look for reports that are customizable and at-a-glance data analytics that are easily accessible during internal meetings. These capabilities can be the difference between a successful deal and one that fails.