A powerful virtual dataroom can streamline due diligence, M&A and fundraising processes, as well as other corporate processes. A VDR makes sharing files with partners or other third parties easier and safer. It also makes it easier to streamline your communication by using chats, questions and answers, as well as video conferencing.
Ensure granular access permissions that are based on the role, document or folder level to ensure more secure file sharing. Choose a vendor who offers an activity log and transformation capabilities for easier managing projects. Moreover, look for an easy-to-use interface that is equally comprehensible to the CFO and entry-level accountant.
In addition to these options, you should consider the capacity of storage and price of your chosen data room provider. Some data rooms offer monthly fees that are flat, while others offer a pay-per storage and per page pricing model. For more detailed pricing information, consult a VDR comparison site.
A good virtual dataroom will be able to support a variety of operating systems including laptops and desktops. It will also support tablets and smartphones. This is important since it allows you to reach a wider audience of potential buyers or investors. In addition you should choose platforms that support several languages and has a mobile-friendly UI.
Finally, the best virtual data room will support a wide variety of file formats, and provide high-speed digital file transfer which can cut down on the time required to upload and download files by more than 50 percent. Additionally it will automatically number and index documents to facilitate search capabilities. The software will also allow for the creation of personal notes that are not viewable to other users.