In the beginning, you Virtual Data Room should determine if the virtual data room can be tailored to fit your company’s workflow. Many providers offer highly flexible interfaces that let you integrate your company’s processes and IT systems. They offer features like watermarks and robust permission levels to prevent document leakage.
Another crucial aspect to consider is what types of documents you will be using the VDR for. For instance, if you are working on an M&A transaction it is likely that you will need a lot of documents related to due diligence, such as research results, patents, and more. These documents require advanced levels of security and are especially susceptible to unauthorised downloads and copies. The most secure VDRs allow you to manage access right down to the individual file folder level.
If you’re planning to make use of the VDR to share sensitive information with third party partners It is important to confirm that the vendor is compatible with electronic signatures. This will save your time and money by eliminating the requirement for physical signatures.
Also, it’s worth taking a look at the limitations on size and storage that the virtual data room offers and its overall capacity. You don’t want to be surprised by sudden limitations on the size of files you are able to upload or download.