A good VDR partner will offer various features. However there are some core ones that are essential to consider. Strong security features, like malware and virus scanning, multifactor authentication and advanced encryption are essential to making sure that your uploaded data is secure and safe. Similarly, third-party certifications like ISO 27001, SSAE 16 and ISAE 3402 provide independent proof that your VDR partner is up to the highest standards and provides valuable peace of mind.
Find a user-friendly interface designed to allow efficient due diligence and collaboration on deals across desktops, tablets and smartphones. A well-designed user experience can improve Electronic data rooms the speed of deal-making and save time and resources by eliminating cumbersome physical paper processes and enabling a quick review on all devices.
Advanced vdr features, such as fence view and redaction should also be available to reduce the risk of sensitive information being seen by unauthorised individuals. Redaction blacks out parts of a document to prevent personally-identifiable information from being seen and fence view digitally masks the rest of a file to prevent screenshotting. Look for a VDR that has these and other security certifications like FedRAMP, FINRA, GDPR, HIPAA and more.
A reliable VDR provider offers solid security for data as well as detailed audit trails. This will provide you with an overview of the activity of your users on the platform. This will help you meet standards for compliance and provides insight into the progress of your team when working on a transaction. The most effective VDRs include a Q&A section that allows annotation of documents, the ability to assign tasks and in-app support that’s available 24/7/365.