It’s important to think about the various stakeholders that will need to use the platform when choosing a data-room platform. Administrators, corporate employees, investors, and other third parties could require full access to certain documents, whereas others may require download or view-only capabilities. Having the flexibility to create groups and assign permissions is key for streamlining the collaboration process.

It is also important to select a provider that provides data protection features to prevent sensitive information from falling into the wrong hands. Watermarking, access logs and NDA signing are all standard features that can help to protect your information. Some providers offer a customisable NDA which you can tailor to your specific business requirements.

Another key feature to look for is the ability to include descriptive information to each document to give context and make it easier for users to find the documents they require. The control of version is also essential so that everyone can work with the latest version of an document. This will allow you to answer questions quicker and close deals faster.

Finally, the capability to automate and simplify due diligence and auditing tasks is another key element of many VDR solutions. To ensure that due diligence gets completed on time and efficiently you should look for features like real-time task schedulers, progress monitoring and report generation. A Q&A tool is an excellent way to increase collaboration and accelerate deal workflows.