A good VDR partner will provide various features. However, there are a few important ones that are essential to consider. Secure security features such as scanning for malware and viruses multifactor authentication, multifactor authentication, and advanced encryption are essential for making sure that your uploaded data is safe and secure. Similarly, third-party certifications like ISO 27001, SSAE 16 and ISAE 3402 provide independent proof that your VDR partner meets the highest standards and can provide peace of mind.
Find a user-friendly interface designed to facilitate efficient due diligence and collaboration on deals across tablets, desktops and smartphones. A well-designed interface will accelerate deal processing and help save time and money by removing lengthy paper processing.
To minimize the chance that sensitive data could be viewed by unauthorised individuals advanced vdr options such as fence view and redaction should be accessible. 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. Search for an VDR that has these and other advanced certifications, such as FedRAMP and FINRA.
In addition to robust data security, a good VDR partner will also offer integrated analytics and comprehensive audit trails that give you an exhaustive view of the activity of your users on the platform. This allows you to meet compliance requirements, and gives insight into the progress of your team members while working on transactions. The best VDRs will also include an area for Q&A and document annotation, as well as the ability to assign tasks, and the ability to provide support in-app all hours of the day, every day.