The best vdr program makes it simple to use and integrates seamlessly into your existing workflows. The possibility of installing preferred integrations, for instance could make the transition easier for teams that are accustomed to working with tools like Microsoft OneDrive or Slack. A user-friendly interface will improve efficiency. If a VDR requires an extensive learning curve to navigate it could hinder the dealmaking process and add unnecessary steps.
A quality VDR can also keep track of who has seen which documents. Find out if you can track activity on a page to track which files have been viewed and by whom, when, and for how long. You can even prevent users from printing or downloading sensitive documents. This is ideal for sensitive IP or when you want to protect information from being shared with an exclusive group of people.
Private equity firms and VCs can often be dealing with many documents all at once, and having a an organized and efficient process is crucial to their success. The right VDR will help organize the reams of paperwork and speedily move them through due diligence. VDRs are also beneficial for these groups because they include a Q&A function that allows experts to answer questions without divulging the PII of the submitter. Look for customizable reports, and data analytics at a glance which can be easily accessed during internal meetings. These tools can make the difference between a deal that is profitable and one that’s not.
