A data our website room can be a valuable method of streamlining processes and transactions that depend on secure document sharing. However, not all data rooms are the same and some have tools tailored to specific industries and types of transactions. Compare features and functionality between providers to ensure you are doing your due diligence. Determine which VDRs are the most suitable for the field in which you work.

Certain VDR software providers, for example, specialize in assisting M&A due-diligence players. Others are focused on the legal, education, banking and banking sectors. Some VDRs include advanced features specifically suitable for archiving and facilitation of collaboration in the areas of investment banking and structured finance as well as M&A. SmartRoom, for example, is cloud-based VDR that has faster upload speeds, SmartLock to revoke access even after downloading, built-in redaction and DocuSign integration as well as other features.

Pay attention to how that providers manage permissions when comparing online document-management software. Some VDRs allow you to assign rights based on each employee’s role within the company or contribution to the project. This can improve the security and cooperation of employees, since the parties will only be able access documents that are relevant to their.

You can also make use of audit reports in order to improve the governance process and track security. They provide detailed information about file access activities, viewing history, and other activity. Search functions are also essential, especially if your team works with large volumes. Ensure your VDR supports optical character recognition and full text search by using content structure and folders and filters to narrow search results.