Virtual Data Room Benefits

Most often, VDRs are used to keep and share confidential information for processing financial transactions. However, the benefits of virtual data rooms go far beyond that. The top VDR providers offer a flexible and efficient platform that lets companies streamline their processes, speed dealmaking, and work more efficiently, whether conducting due diligence or seeking money.

Life Science startups, for example, are able to access a large amount of IP that needs to be handled and stored securely. They also have to offer access to potential investors from all over the world and enable real-time collaboration. In such an environment an ideal VDR provider should include auditing and activity tracking capabilities that allow administrators to observe all user activity in the system and keep detailed records of who performed what, when and how.

Furthermore, the majority of top VDR providers have advanced search functionality that makes it easy to find and provide important information to investors, regardless of the size of the repository. Users are able to alter the look and feel of the platform, and develop a custom user portal to suit their needs.

A VDR provider should accommodate a variety of file formats, and make it easy to import documents into a variety of formats including PDFs as well as other formats like TXT, Doc and DOCX. They should also include an intuitive drag and drop feature to facilitate large-scale uploads of documents. Furthermore, they should have an option for customizing branding and an admin dashboard that’s easy to navigate.