The best vdr is easy to use and integrates with your existing workflows. The ability to integrate preferred integrations, for example could help smooth the transition for teams used to working with tools such as Microsoft OneDrive or Slack. A user-friendly interface will also increase efficiency. If a VDR requires an extensive learning curve to navigate it can hinder the process of making deals and create unnecessary steps.
A reliable VDR also allows you to keep track of who has viewed what documents. You can track page-level activity to see who viewed what files, at what time and for how long. You can even prevent users printing or downloading sensitive documents. This is ideal for sensitive IP or when you need to keep information private between a small group of people.
A simplified process for organization is crucial for VCs as well as PE firms that are typically working with multiple reams of paperwork at a time. The most suitable VDR will help organize these reams of documents and help them move quickly through due diligence. VDRs are also useful for these groups because they include a Q&A function that permits experts to answer questions without disclosing details about the person who submitted the question. Look for customizable reports and analytics on data that are easily accessible during internal meetings. These tools can make the difference between a deal that’s successful or not.
