If you’re responsible for the process of facilitating due diligence and you want to reduce the stress on project participants, using a virtual data space could be the ideal solution for your company. But, selecting the right provider could take some time and effort as there are many on the market. It is essential to select one that offers an intuitive interface compatible with your business, and can be used for all of the participants.

To guard against security breaches, you should seek out a virtual data room that offers watermarks, as well as other security measures. Some providers also provide the option of presenting an NDA or Terms of Access agreement to users prior to granting them access to uploaded files. A more convenient sign-off process is also a must-have option.

A well-structured folder structure is an additional way to increase due diligence. This method involves creating main folders which correspond with a specific type of file, degree of confidentiality or stage of the project and subfolders to further separate files into easily accessible sections. Choose a service that has auto-numbering and file indexing features to keep the structure as well-organized as is possible.

It’s also important to look for a virtual data room that can provide a variety of file management options. For instance iDeals’ virtual data rooms offer eight different levels of permissions for controlling access to uploaded documents, including read-only mode, fence viewing, download and editable Excel sheets. The platform also comes with 256-bit security encryption and remote shredding.

review Unpacking the Potential of Virtual Data Rooms