Apr, 16 Posted by

A good VDR partner will provide many features. However, there are a few fundamental ones are essential to consider. Robust security features like virus and malware scanning multifactor authentication, advanced encryption are essential to making sure that your uploaded data is safe and secure. Third-party certifications such as ISO 27001, SSAE 16 or ISAE 3402 are independent proof that the VDR partner you choose is of high standards. They can provide you with peace of mind.

You should look for an interface that is user-friendly, allowing efficient due diligence collaboration, deals and collaboration across tablets and desktops. A well-designed interface can accelerate deal processing and save time and resources by removing lengthy paper processing.

To limit the possibility that sensitive data could be viewed by unauthorised users advanced vdr features such as fence view and redaction must be accessible. 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. Look for a VDR that has these and other security certifications like FedRAMP, FINRA, GDPR, HIPAA and more.

Alongside robust security of data, a reputable VDR partner will provide built-in analytics as well as detailed audit trails to give you an entire picture of the activities of your users on the platform. This helps you to meet the requirements for compliance, and provides an overview of the progress of your team when working on the transaction. The best VDRs will also include a Q&A section, document annotation, the ability to assign tasks and in-app support that is available 24/7/365.