If you’re an investment banker advising clients or an organization that wants to share sensitive information beyond the firewall, a quick Google search will bring up an array of VDR providers ranging in price features, functionality, user-friendliness and effectiveness. Making the wrong choice of VDR provider can cost you money, time and may even cost you a deal. Fortunately, by taking the time to review pricing plans and specifications, features, security standards and customer service to find a dependable VDR solution that will meet your requirements without breaking the bank.
The most important aspect to consider when choosing the right VDR is that it needs to be simple to use by all participants. Ideally, all participants should be able sign in using any device, including desktops, laptops, tablets and mobile devices to ensure an uninterrupted due diligence or cooperation process. Additionally, the VDR must provide a clean and intuitive user experience that’s easy to navigate. Some providers also provide additional features to help improve collaboration, such as the Q&A section, document annotations, and the ability to assign tasks.
Lastly, it’s important to choose a VDR with strong data security. Some providers go the extra mile to protect your files by offering restricted access, allowing you to stamp your signature on folders and collections of files for ultra-secure sharing of files. DocSend VDRs as an example, generate unique links you can copy and paste into email or instant message applications to send files with just one click. They also prevent users from saving files to their hard drives or printing unauthorised copies.