A reliable VDR partner will provide a wide variety of features, but there are some essential ones that should be on the top of your list. Strong security features, like virus and malware scanning multifactor authentication, as well as advanced encryption are essential to ensuring that uploaded data stays 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 offers valuable assurance.
You should look for an interface that is user-friendly, allowing efficient due diligence collaboration, deals, and collaboration across desktops and tablets. A well-designed user experience can accelerate the process of negotiating and help save time and money by removing the need for paper processing and allowing quick reviews on all devices.
To limit the possibility that sensitive data is seen by unauthorised users, advanced vdr features like fence view and redaction ought to be readily available. 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 an VDR with these and other advanced certifications like FedRAMP and FINRA.
In addition to a robust security of data, a reputable VDR partner will also offer built-in analytics as well as detailed audit trails to give you an accurate picture of your users’ activity on the platform. This helps you meet compliance requirements and provides insight into your team’s progress while working on the details of a deal. The best VDRs include a Q&A section, document annotation, the ability to assign tasks and the ability to provide support in-app all hours of the day, every day.