The most effective VDR provider will depend on the specific needs of your scenario. Whether you are searching for an online repository to store and share sensitive data or a smart VDR that enhances collaboration in due diligence, it all depends on what you want. The number of participants, the length of the project, and the type of data all affect the features needed. You should also consider whether users will be external or internal and whether they are technical or not. Ideally, your selected VDR should be scalable, and provide both general and industry specific function.
Select a VDR with user activity tracking and reporting capabilities to ensure security, visibility and compliance. You should consider tools that let you track and analyze in real-time downloads, uploads and user behavior. Drill-down reports and full audit logs transform data points into digestible information that can be used for simple and efficient due diligence procedures. Search functionality should be robust and include optical character recognition (OCR) for PDFs and images and filters that allow you to narrow down files by type, status or viewing activity. In addition, customer support should be available 24/7 to help new users set access levels and navigate data structures.