VDR portals provide a secure online environment for companies to share sensitive documents throughout the process. These platforms can be a useful tool for M&A and fundraising processes that require a variety of different parties, each with their own kinds of data. They can boost the efficiency of due diligence procedures by streamlining the management of documents. They can also decrease the chance of human error in the course of a deal by offering a platform for teams to collaborate.
While both client portals and VDR sites provide a range of benefits, choosing the best option for your company will depend on what you need it for. For example, if you have a simple project that you want to improve communication with investors or clients using a client portal, then a customer portal is a great choice. However, if you’re involved in complicated M&A trades and you need to complete the entire due diligence process, then a VDR is the better option.
A quality VDR website should have several features that improve the user experience. Secure login and IP address tracking are available to stop access by people who are not authorized. You can also track page-level viewings to determine who viewed what, and at what time. Certain VDRs come with an analytics feature that can help you detect suspicious activity, such as lost files or stolen ones.
Look for the VDR that has the opportunity to try it out for a trial period. This lets you test it before you make a purchase decision. You can compare features and costs of different vendors. You should also check that the VDR site has 24/7 support so that you can receive assistance if required.