If you’re looking for an online repository to store and share sensitive data or a smart VDR to increase collaboration in due diligence, finding the best VDR provider depends on the needs of your. The quantity of participants, the duration of the project, and the type of information will influence what features you require. It is also important to consider whether users will be external or internal, technical or non-technical. Ideally the VDR you select should be scalable and include both industry-specific and general-purpose functionality.
Choose the VDR with the ability to track user activity and report to ensure compliance, security and visibility. You should search for tools that allow you to monitor and analyze in real-time the downloads, uploads and users behavior. Audit logs and drill-downs transform information into digestible insights which make it easier to improve due diligence processes. Additionally, search capabilities should be able to handle optical character recognition (OCR) for PDFs and images, as well as filters for narrowing down files by file type as well as status or viewing. Finally, customer support must be available around the clock to assist new users in setting access levels and navigate data structures.