If your company is preparing for an acquisition, seeking capital or simply wishes to share files with investors and colleagues virtual data rooms can improve your core processes and transactions. However, selecting the best VDR service shouldn’t be taken lightly when the security of sharing files is at stake. It’s important to consider your security requirements, as well as other factors like scaling and UI, price and customer support.
A full online data room will provide a variety of features that are designed to improve security, simplify sharing documents and foster collaboration. It should have customizable dashboards, scroll-through views and a simple navigation system to make it easy for the user to navigate even when they manage thousands of documents. It should also offer various deployment options like multi-project management as well as flexible permissions and an interactive scroll-through viewer.
A VDR should also include a robust Q&A feature that can aid in communication. Administrators can organize and sort questions and answers into groups and folders, determine priority levels, and generate reports. This can help eliminate duplicate questions and redundancies and ultimately saves time for everyone involved.
Startups should look for a data room provider which allows them to modify the interface and branding it. This can not only make the VDR more recognizable to prospective investors, but also provides a sense of professionalism. Some VDR providers even allow you to put your branding logo to the homepage of the data room this further increases your credibility and increases user confidence.