The most effective VDR provider will depend on the specific needs of your scenario. If you’re searching for an online repository to store and share sensitive information or a smart VDR that helps collaborate in due diligence it all depends on what you’re looking for. The quantity of participants, the duration of the project, and type of data will affect which features are required. Be aware of whether the users are internal or external and whether they are technical or not. Ideally, your selected VDR should be scalable and have both general and industry specific purpose functionality.
Choose choose a VDR that offers users activity tracking and reports to ensure compliance, security and visibility. Find tools that allow you to track and review uploads, downloads and user behaviour in real-time. Drill-down and audit logs turn data into digestible insights that make it easier and more efficient to conduct due diligence processes. Search functionality should also be robust with optical character recognition for PDFs and images as well as filters to filter files based on the type of the file, its status or even viewing activity. Additionally, customer support should be available 24/7 to help new users set access levels and navigate data structures.
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