A reliable VDR partner will offer many features. However, there are a few core ones that you should prioritize. Security features that are robust, such as scanning for malware and viruses multifactor authentication, as well as advanced encryption are essential for making sure that the data you upload is safe and secure. Similarly, third-party certifications like ISO 27001, SSAE 16 and ISAE 3402 provide independent proof that your VDR partner meets high standards and gives you peace of mind.
You should look for an interface that is user-friendly, allowing efficient due diligence, collaboration and deals across tablets and desktops. A well-designed interface can speed up deal processing and save time and money by removing the need for paper-based processing.
Advanced vdr features, such as fence view and redaction should also be available to reduce the risk of sensitive data being read by unauthorized persons. Redaction blacks out parts of a document to prevent personally-identifiable information from being seen and fence view digitally masks the rest of a file to prevent screenshotting. Search for a VDR that has these certifications and others that are more advanced, such as FedRAMP and FINRA.
In addition to robust security for data, a reliable VDR partner will also provide integrated analytics and thorough audit trails to provide you with an accurate picture of your users’ activities on the platform. This helps you meet standards for compliance and provides insight into your team’s performance while working on the details of a deal. The best VDRs will also include an area for Q&A, document annotation, the ability to assign tasks, and in-app support that is available all hours of the day, every day.
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