The leading VDR portals provide a broad array of features to meet the needs of various business scenarios. Certain VDR portals provide advanced security features, such as two-factor verification, active watermarking, and timed expiration of access. These security features are intended to protect confidential documents from hackers who are malicious. Some have compliance standards tailored to specific industries. Some also have features like central document management with granular permission settings, as well as searchability.
In addition to standard functionality, the best virtual data rooms provide a range of support services. Some companies have project managers who are tasked with each due diligence process. SmartRoom for instance assigns a customer support representative per client to assist with the entire process of due diligence. Certain companies offer personalized training as well as onboarding and content migration. They also can handle the technical work required for the due diligence process. This allows you to focus on closing deals.
It is important to select the VDR with a user-friendly and a robust interface. Users are likely to revert back to previous processes when they don’t have an interface that is easy to use. They may also lose the value they’ve invested in a platform has. Other factors that could hinder the effectiveness of a VDR include poor document organization and insufficient visibility of the most important features. If you’re sharing sensitive files, like names that are accurate titles and maintaining them up-to date can boost efficiency and organization. Choose an VDR with an adjustable price according to the project’s requirements, and chat functionality.