Key Options to Look For In A Trusted VDR
The use of virtual data rooms (VDRs) in the context of business deals, such as Q&A, NPL transactions, commercial real estate sales, and executive communications, has become a common matter these days. Indeed, a reputable VDR not only helps to store, manage and share data in a protected environment online, but it also significantly simplifies the whole deal making process. Plus, it promises greater likelihood of deal happening. If properly chosen, a VDR will help to maximize value, gain credibility, maintain control of the process, minimize disruptions, and eliminate surprises. Anyway, it can be even said without exaggeration that a proper virtual data room is half of the deal’s success. But, the key aspect here is the “proper”. Thus, it is extremely important to choose the right partner, if you want to get most of the award-winning next-generation VDR. By the way, when it comes to choosing the proper virtual data room software, it’s wise to keep the following key considerations in mind.
· First of all, it’s the extensive feedback from dealmakers. Only trusted and leading providers have this. So, choose the leading platforms.
· Second, the experience and expertise of the provider.
· Plus, the availability of a number of advanced capabilities. The most crucial functions a virtual data room should offer are the following:
1. Advanced security, which includes not only antivirus protection, data encryption and account theft prevention, but also such options as time and IP restriction, duel step authentication, auto data backup, compatibility, secure access from mobile, and etc. You have to be sure that the selected service can guarantee you 100% security and no data leaks or data lost.
2. Advanced search along with full text recognition functionality, which helps finding the needed file within seconds.
3. Multilingual and easy to use interface.
4. Multilingual 24/7 support across all time zones. Needless to note, leading online data repositories, in particular iDeals, provides you with a devoted manager.
5. Questions and Answers (Q&A), which helps all sides of the deal communicate and solve all deal related issues within the VDR.
6. Digital rights management, which helps you decide who can view, share, download or print which information.
7. Audit-trail reporting, which helps the selling side see who is doing what within the VDR. Plus, there is also a possibility to see who of all potential buyers are most likely to become the real one.
8. Dynamic watermarks along with a fence view mode. This option guarantees that your files are protected from unauthorized copying in multiple ways.
9. Bulk uploads. This function allows you to upload lots of files at the same time.
10. Microsoft Office Integration, which allows the users to edit Excel and Word files within the VDR.
· Apart from the mentioned above, it is highly advisable to choose such service, which offers a free trial to better understand the platform and determine whether it is the right option for your deal.
· Finally, it would be great if the selected service can be customized according to your specific needs.
