Finding the Best VDR Provider
If you’re searching for an online repository to store and share sensitive data or a savvy VDR to facilitate collaboration in due diligence, finding the most appropriate VDR service is based on your specific needs. The quantity of participants, the duration of the project and type of data will determine what features you require. Consider whether the users are from the internal or external and whether they are technical or not. Idealy the VDR you choose is one that can be scalable, incorporating both general-purpose and industry-specific functions.
Select a VDR that provides monitoring of user activity and reporting to ensure compliance, security and visibility. You should look for tools that allow you to track and analyze in real-time the uploads, downloads and user behavior. Audit logs and drill-downs transform data into digestible insights which make it easier to improve due diligence processes. Also, search functionality must be robust and include optical character recognition (OCR) for PDFs and images and filters for narrowing down files by type or status, or even viewing activity. Support for customers should be available 24/7 to help new users navigate data structures and set access levels.