VDR features that are the most important for companies looking to evaluate virtual data rooms are security, scalability, ease of use and support. Security features include virus and malware scanning, multifactor authentication, firewalls and advanced encryption to safeguard uploaded information. Audit logs provide detailed information about all actions performed in the VDR. This includes downloads, views, and changes to documents and folders. VDR admins can also create custom watermarks, which add a time stamp and name to every file downloaded.
A great VDR should also allow users to customize the interface and notifications, while support should be available via in-app live chat telephone, email, and help centers with product videos. The VDR should also be compatible with Apple devices, Android devices and Blackberry without the requirement for additional plugins. Advanced text search allows for a quick and easy review of documents, files and folders. The tools for organizing folders should be able to provide a hierarchical layout and an orderly organization, with tags adding an additional layer of flexibility. A Q&A section lets users to ask questions and receive answers about specific documents or folders.
Private equity firms and VCs typically work with a variety of clients at a time, requiring them to speedily and effectively share huge amounts of information. In these scenarios, VDRs are the best solution to make due diligence more efficient and more efficient. VDRs are also helpful in other fields such as life science, technology, and financial services. VDRs help these companies streamline sharing of confidential information with legal teams, clients and third parties during litigation.