If you’re looking for an online repository to save and share sensitive information or a savvy VDR to increase collaboration in due diligence processes, locating the best VDR provider depends on the needs of your. The number of participants, the length of the project, and type of information will influence what features are required. Take into consideration whether the users are internal or external and whether they are technical or not. Ideally, your chosen VDR should be scalable and provide both general and industry specific functionalities for general use.

Select the VDR that provides user activity tracking and reporting to ensure security, compliance and transparency. You should consider tools that allow you to track and analyze in real-time uploads, downloads and user behavior. Drill-down reports and complete audit logs turn data points into digestible information for easy and efficient due diligence processes. Also, search functionality must be able to handle optical character recognition (OCR) for images and PDFs and filters to filter the files according to file type as well as status or viewing. Customer support is Firmex Virtual Data Room available 24 hours a day to help new users navigate data structures and establish access levels.