Many companies rush to implement an online data room in anticipation of a future deal, but don’t consider the ease-of-use. However, a user-friendly room with the right features can facilitate more deals.
A reliable VDR assists in due diligence for both parties and speeds up the completion of the deal. It can also avoid costly errors such as sharing sensitive information with unauthorized users. If you’re looking to select the most suitable VDR solution for your business, make sure it is a comprehensive yet simple solution that will meet all your needs for sharing documents.
VDR features like granular permission controls protect confidential and proprietary data from leaks. You should look for a VDR that permits permissions to be set based on groups of people, and has statistics available to show who has viewed or saved an individual document. Look for a VDR with security features specific to documents like watermarking and disabled printing.
Choose a VDR that is easy to configure connectors to Box, Dropbox Google Drive and Microsoft SharePoint. This will allow real-time collaboration and eliminate the requirement for large files to be shared via email. It’s also a good idea to look for features that let users alter the appearance and feel of the VDR and also incorporate their company branding. Additionally, seek out a VDR with a quick-look report that gives a high-level overview C-suite executives require to be updated during the due diligence process.
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