Sharing sensitive documents outside of your firewall is a crucial aspect of many projects whether you’re on a corporate M&A team or an investment banker who provides advice to clients. A VDR is a secure virtual meeting place that can help you facilitate the due diligence process and increase your chances of closing the deal. It’s crucial to choose the right one for your business. A VDR that isn’t simple to use or efficient may slow down your project and cost you money.
When you’re choosing a VDR make sure you choose one that offers basic features such as the management of files and user access control, but also has advanced options, such as redaction and fence viewpoints to prevent leakage. It should also be compliant with the requirements of your industry and offer an easy and intuitive interface that is accessible to C-level executives as accounting professionals at the entry level. In addition, you should look for a provider that provides a free trial and doesn’t charge for usage after the trial period has ended. It’s also important to avoid companies that offer drinks and gifts as they might be less worried about the quality of their product.
It is important to first determine the length of your projects and the frequency you will require sharing confidential documents with third-party parties. This will aid you in deciding if you’d prefer to purchase a VDR that is only used for one project or a subscription that allows multiple deals. You should also think about whether you need additional services, like consultations or training.
