When looking at VDR providers, it’s essential to think about security and costs. In addition, to ensure that your data is encrypted in-storage and in transit, choose a solution that lets users control the level of verification required to access sensitive Investor Data Room documents. It is also essential to be able to remove the access privileges for every document, particularly when dealing confidential documents that require heightened security.
Choose a solution with sophisticated search tools that can automatically arrange uploaded files in the file store. In addition, many modern solutions can detect text in many file formats and convert them into searchable PDFs. This makes them a great platform for due diligence and collaboration on projects.
VDRs are very popular with investment banks because they allow them to quickly and securely share information with potential buyers, investors or strategic partners. This could save you time and money that could have been spent on meetings and printing and makes it easier to negotiate.
A well-designed VDR will also allow you to keep track of who has viewed a specific document and when. This is essential for compliance and can serve as a way to prove that your organization has met all requirements of the law. For instance a financial service company will likely want to make sure that their VDR has been configured in a FINRA-compliant manner while a healthcare organization will require it to be HIPAA-ready.