VDR portals provide a secure online environment for firms to share sensitive documents throughout the package process. These platforms can be an invaluable tool for M&A or fundraising processes that require many participants and various types of information. They can increase the effectiveness of due diligence processes by streamlining the management of documents. They can also reduce the chance of human error during the course of a transaction by providing the opportunity to collaborate.
While both portals for clients and VDR sites provide a range of advantages, picking the right option for your company is contingent on what you’re using it for. For example, if you are working on a simple project and you’d like to improve communication with clients or investors using a client portal, then a customer portal is a great choice. If you’re working on complex M&A transactions and require to complete the full due diligence process, then VDR is a better option.
A quality VDR will include a range of features to enhance the user experience. This includes a secure login, as well as a record of IP addresses to block unapproved access to sensitive data files. You can also track page-level views to track who has viewed what, and at what time. Certain VDRs include an analytics feature that helps you spot suspicious activity, like misplaced files or stolen ones.
You should look for A VDR that has the opportunity to try it out for a trial period. This will allow you to test it before you make a purchase decision. You can compare features and costs of different vendors. Also, ensure that the VDR website has 24/7 support to provide assistance whenever you need it.