Reduce the time spent on due diligence, M&A, fundraising and other corporate processes with a robust virtual data room. A VDR lets you share files with partners or other third parties simpler and more secure. You can also improve your communication by using chats, Q&As and video conference.
Ensure granular access permissions based on the role, the document and the folder level for secure file sharing. Find a vendor with an activity log as well as transformation capabilities to make it easier for project management. Choose a user-friendly interface that can be used by both the CFO as well as the entry-level accountant.
It is also important to consider the storage capacity of your data room provider and its cost. Many data rooms online provide pay-per-storage and per-page pricing models, while some offer a flat monthly cost. For more detailed pricing information, consult a VDR comparison site.
A great virtual data room can be used with a variety of operating platforms and devices, including tablets, laptops, desktops and smartphones. This is important because it lets you reach a wider group of potential investors or buyers. Additionally, you should look for an application that can be used in different languages and has an UI that is mobile-friendly.
The top virtual data rooms will support various formats for files. They also provide a digital file transfer at high speed that can reduce the speed of uploading and downloading files by up to 50%. It will also automatically number and index the documents to streamline search functionality. The software should allow users to create personal notes that can’t be viewed by third-party users.
