If you’re searching for an online repository to store and share sensitive information or a smart VDR to improve collaboration in due diligence processes, choosing the most suitable VDR provider is dependent on the requirements of your. The amount of participants, the duration of the project, and type of data will affect which features you require. It is also important to consider whether the users will be external or internal, technical or non-technical. The ideal choice for your VDR should be scalable, and provide both general purpose functionality.
Choose choose a VDR with tracking of user activity and reporting capabilities to ensure security, transparency and compliance. Find tools that allow you to monitor and analyse file downloads, uploads and user behavior in real-time. Drill-down reports and complete audit logs turn data points into digestible insights for simple and efficient due diligence procedures. Search functionality should also be robust, with optical character recognition for PDFs and images, and filters to limit files based on file type, status, or the activity of viewing. Lastly, customer support should be available 24 hours a day to help new users set access levels and navigate data structures.