The best VDR provider will depend on your specific usage scenario. Whether you are seeking a secure online repository to store and share sensitive data or a smart VDR that facilitates collaboration in due diligence, it all depends on what you require. The number of participants, the length of the project, and the type of data all affect the features needed. It is also important to consider whether the users will be internal or external, technical or non-technical. The ideal choice for your VDR should be scalable and have both industry specific and general purpose functionality.
Choose a VDR that has users activity tracking and reports to ensure compliance, security and transparency. You should look for tools that allow you to track and analyze in real-time the uploads, downloads and user behavior. Audit logs and drill-downs transform information into digestible insights that make it easier and more efficient to conduct due diligence processes. Also, search functionality must be able to handle optical character recognition (OCR) for images and PDFs and filters to filter files by file type as well as status or viewing. Support for customers is available 24 hours a day to assist new users navigate data structures and set access levels.
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