The best vdrs are simple to use and can be integrated with your existing workflows. For instance, the capacity to install preferred integrations can make the transition smooth for teams that have become used to working with tools such as Microsoft OneDrive or Slack. A user-friendly experience can boost efficiency, too. If the VDR requires an extensive learning curve to master it could hinder the dealmaking process and add unnecessary steps.
A good VDR will also allow you to know who has visited what documents. Check for page-level activity tracking so you can see which files have been viewed and by whom, what time and for how long. You can also block users from downloading or printing sensitive documents. This is perfect for sensitive IP or when you need to keep information confidential between only a small group of people private.
A streamlined organization process is crucial for VCs and PE firms that are typically dealing with reams of paperwork at one time. The best VDR can help in the organization of these documents and help them move through due diligence in a speedy manner. VDRs can also be useful for these groups as they come with a Q&A feature that allows experts to answer questions without revealing the identity of the submitter. Look for customizable reports, and data analytics in a glance that can be accessed easily during internal meetings. These features can make the difference between a deal that is successful and one that’s not.
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