Directors must consider many factors when deciding which virtual deal room software they will use. These include the performance of the platform as well as security features, customer service, and pricing models. While price is an important factor, it shouldn’t be the primary consideration when choosing a VDR. Many providers who charge more can offer better functionality, such as advanced features and customized dashboards.
The most common VDR features include drag-and-drop uploading, a clear data structure with a numbering system that automatically numbers indexes and dynamic watermarking that prevents unwanted duplication or sharing of files. Other features that are commonly used include activity reports and the ability to establish access hierarchy. The ability to keep track of all access and downloading activities is helpful to ensure compliance and security.
When comparing virtual data rooms, search for one that features a robust digital right management system, with IP-based restrictions and encryptions that are controlled by the user. Also, make sure the virtual data room works with the kinds of devices and operating systems your project requires. For example certain virtual deal rooms run on the web only, whereas others allow tablets and mobile applications. Some virtual deal rooms provide IRM without plug-ins, and in multiple languages.
The most effective virtual data rooms offer an easy interface and a short learning curve. Startups typically have limited resources and do not have the money to invest in new technology or use complex platforms. They should search for the best virtual datarooms that have an easy-to-use interface and 24/7/365 customer support. It’s also a good idea for you to search for a provider that has a landline phone number and online forums.