Top VDR providers provide a secure online repository to store and share sensitive documents. Business leaders use it to aid due diligence during M&A bids, bidding, restructuring, bankruptcy and contract negotiations. It also helps streamline important business processes and speeds up closure of deals. The use of VDRs eliminates the need to transfer documents via email, which can be compromised and leave businesses open to legal liability.
The choice of the right VDR provider can be a challenge because of the variety of pricing models that are available in marketplace. Look for an VDR with a flexible pricing structure to meet your budget as well as scalability as your startup grows. Consider the availability of customer support, as it can be a critical factor during crucial transactions and due diligence.
A few of the top VDRs provide a trial period that lets you test the system before making a decision. During this trial you can play a presentation to investors and organize your documents and gain knowledge of the system. This will give you hands-on experience prior to making a choice and can help you feel more comfortable with the software.
Choose choose a VDR that has an user-friendly and intuitive interface. This is especially important for startups that have limited resources and time constraints. You should also choose a VDR that has the ability to tailor their platform to match your business’s branding and specific needs. You should also select a VDR with the ability to apply watermarks to the files. This can prevent unauthorised access to files and protect intellectual property.