In the beginning, you should determine whether the virtual data space can be tailored to fit your company’s workflow. Many providers offer highly flexible interfaces that let you other integrate with your company’s IT systems and business processes. They also have features such as watermarks and strong permission levels that can prevent document leakage.
A second aspect to consider is the type of document that you intend to use the VDR for. For instance, if are making preparations for an M&A transaction, there will likely be numerous documents that pertain to due diligence such as research results, patented technologies and so on. These documents should be protected at a high level and are susceptible to unauthorized copies and downloads. The most secure VDRs permit you to control access right down to the individual file folder level.
If you intend to use the VDR to share sensitive information with third people outside of your company It is important to determine whether the vendor is able to support electronic signatures. You will save time and money if you can eliminate the requirement for physical signing.
Finally, it’s worth examining the limitations on file size, storage and type of files that the virtual data room provides and its overall capacity. You don’t want to get shocked by sudden restrictions on the size of files you are able to upload or download.
