Modern VDRs provide document management features that can simplify due diligence processes and facilitate the transfer of data throughout the course of a transaction. They permit companies to store billions upon billions of documents, and to monitor changes in order to control who can access them. They also provide an efficient platform for collaboration. This helps in more informed decision making, reduces transaction timelines and promotes compliance.
VDRs have advanced significantly over the past five to 10 years. The best ones have transparent pricing, features that are actually used and an intuitive user interface. Look for a company that offers a comprehensive set of features and a track record of uptime and reliability.
The right organization of folders and naming conventions, along with access rights are crucial to a successful VDR document organization. Set up a clearly defined folder structure for each deal and use consistent naming conventions across all files. This allows you to navigate and locate the correct files. Limiting downloads and printing helps prevent unauthorized transmission of sensitive information.
Some VDRs let users save documents as favorites so they can quickly and easily return them. Others have infinite scrolling, allowing users to swiftly browse the contents of documents without having to navigate through multiple pages.
VDRs also offer a variety of other useful tools to improve productivity and efficiency. They include automatic indexing for easy search and retrieval of files, a variety file formats and sharing options that are secure, document revision control, and more.
