Choosing a Virtual Document Repository (VDR)

No matter if you’re an investment banking professional providing advice to clients or a corporate M&A department, sharing sensitive documents beyond your firewall is a critical step in many projects. A VDR or virtual meeting room, is a secure online platform that can be used to facilitate due diligence and improve the likelihood of closing the deal. It is essential to choose the best one for your business. A VDR that isn’t effective or easy to use could delay your project and cost you money.

When selecting a VDR be sure to choose one that has basic features like user access and file management control, but also has advanced options, such as redaction and fence viewpoint to prevent leakage. It should also be in line with the standards of your industry, and offer a an easy-to-use interface that Website is accessible to C-level executives as accountants at entry-level. In addition, you should find a company with a free trial and doesn’t cost for usage after the trial period expires. It’s also important to stay clear of suppliers that offer beverages and gifts, as they’re less concerned about the quality of their product.

Before implementing an VDR, you should determine how long your projects typically last and how often you’ll have to share confidential files with outside parties. This will help you decide if to purchase a single-use VDR for each project or an annual subscription that supports multiple deals. It is also important to consider whether you need additional services, like consultations or training.