When choosing the best virtual data rooms, your selection of vendors is mostly based on how well their features meet your needs. Look for a VDR with robust capabilities for reporting, user activity audit logs and the ability to transform these reports into custom-designed presentations. A VDR training service and a reliable customer support service are crucial. Virtual data rooms often offer an opportunity to try out a trial period for prospective buyers to see how the software works Data Room Real Estate prior to making a commitment.
One of the most popular use scenarios for virtual data rooms is due diligence. Both the buy-side and sell-side require a secure space to look over documents, and a VDR offers a way of doing so in just a few days rather than months.
When evaluating virtual rooms, you should choose one that allows users to upload their files and organize them into folders with an intuitive drag-and-drop interface. Also, make sure the data room has an efficient search feature which detects both complete and partial matches, and allows filtering by type of document, status and watching activity. Make sure the VDR supports dynamic watermarks to thwart unauthorized downloads as well as printing.
A reliable VDR is one that combines security with a simple, easy-to-use user interface and round-the-clock access for users who are authorized. Furthermore, a reputable virtual data room vendor offers many services that increase the efficiency of your business processes. These include training and consulting to improve the efficiency of RFPs as well as audit and compliance functions, and board reports.