First, you should check if the virtual data room can be customized to your company’s workflow. Many providers offer highly adaptable interfaces that allow you to integrate your company’s processes and IT systems. They have features such as watermarks and robust permission levels that stop leakage of documents.
Another crucial aspect to take into consideration is the type of documents that you’ll use the VDR for. For instance, if you are working on an M&A transaction it is likely that you will need a large number of documents related to due diligence like research results, patent-pending technologies and so on. These documents require advanced levels of security and are especially vulnerable to unauthorized downloads and copies. The most secure VDRs allow you to control access to the individual file level.
If you plan to make use of the VDR to share sensitive information with third people outside of your company, it is worth checking if the vendor supports electronic signatures. This will save you time and money by eliminating the requirement for physical signatures.
Also, it’s worth taking a look at the storage/file size/file type limitations that the virtual data room has to offer and its capacity overall. Don’t want to be amazed by sudden limitations on the size of the files you could upload or download.
