When evaluating a brand new VDR first step is to determine what your particular needs are and how the VDR will be used in your company. This will help you understand what features and services are essential. You can then start evaluating various options to figure out which best fits your business model. By following this method, you can ensure that your company receives the most value from the software. It will also prevent issues down the road that could result in unaffordable overage charges for storage and users.
Find the VDR with robust security measures such as encryption and authentication protocols. A good VDR also includes watermarks to prevent unauthorized viewers to copy or take screenshots of documents. You can also select a VDR that requires multi-factor authentication or IP restrictions to access, as well as the use of a timer to limit the time that users can view the documents on their devices.
Examine whether you can determine if the VDR has user management capabilities and document approvals. These features could be beneficial for a variety of businesses. If your company is involved in the real estate business there is a possibility that you require sharing confidential documents with third party companies as part of loan syndication. A modern VDR equipped with these features can create a safe, collaborative environment that allows you to share documents without fear of being exposed.
Then, consider how it is able to adapt the VDR is to different operating systems and devices. Choose a VDR vendor that offers mobile applications as well as a universal search function as well as support via phone, email, and chat.