A reliable VDR partner will provide a wide selection of features, but there are some essential ones that should be at the top of your list. Security features like scanning for malware and viruses and multifactor authentication are essential to ensure that uploaded data is safe and secure. Similarly, third-party certifications like ISO 27001, SSAE 16 and ISAE 3402 provide independent proof that your VDR partner is up to the highest standards and offers valuable peace of mind.
You should look for an intuitive interface designed to allow efficient due diligence and collaboration on deals across desktops, tablets and smartphones. A well-designed interface will facilitate deal processing, and save time and resources by removing tedious paper processing.
Advanced features of vdr, such as fence view and redaction, should also be available to minimize the risk of sensitive data being viewed by unauthorised individuals. Redaction blacks out parts of a document to prevent personally-identifiable information from being seen and fence view digitally masks the rest of a file to prevent screenshotting. Look for a VDR with these certifications and others that are more advanced, such as FedRAMP and FINRA.
A reliable VDR partner provides robust security of data and extensive audit trails. This will provide you with an overview of the activity of your users on the platform. This helps you to meet the requirements for compliance, and provides insight into the progress of your team members while working on the transaction. The best VDRs also have an FAQ with annotations to documents, the ability of assigning tasks, and 24/7/365 support in-app.