If you’re in charge facilitating due diligence and want to ease the burden of participants in the project, using a virtual data space could be the perfect solution for your business. However, choosing the right service can require some time and effort since there are many available on the market. It is vital to choose an organization that has a simple interface that is compatible with your industry, and is simple for your entire team to use.

You should choose a dataroom with watermarks, or other security measures to avoid security breaches. Some providers provide the option to display an NDA (or Terms of Access) agreement to users before allowing them to access uploaded files. A more efficient sign-off process is also a must-have feature.

A well-organized folder structure is another method to increase due diligence. This approach involves creating main folders that correspond with a particular kind of file, the level of confidentiality or stage of the project and subfolders that further divide files into easily accessible sections. To keep the structure as organized as you can, select an online service VDRs facilitating efficient global team coordination that provides auto-numbering and file indexing features.

It is also essential to search for a virtual data room that offers various options for managing your files. For example iDeals’s virtual data rooms provide eight different levels of access to control access to uploaded documents that include read-only mode, download, fence viewing, and editable Excel sheets. In addition, the platform offers remote shredding and encryption of 256 bits for added security.