Virtual data rooms (VDRs) are essential for finance professionals: they enable everything from M&A deals to venture capital fundraising. VDRs help companies grow revenue, raise capital to fund new initiatives, and tell stories about their businesses. But despite how important VDRs are for finance professionals, many of them aren’t using modern data rooms that offer easy-to-use security and customization features.
Finding the balance between legacy software and cloud storage tools
Finance professionals are moving away from older data rooms and toward more streamlined solutions. Our recent research (below) proves this true. Modern data rooms need to chart a course between the simplicity of cloud-based storage and the robust features of legacy VDR providers. Users shouldn’t have to compromise when selecting a data room, and modern VDRs need to offer easily-managed security, meaningful analytics and customization, and an intuitive user experience.
DocSend’s VDR is one modern solution that occupies this middle ground. It offers a customizable, user-friendly experience but also prioritizes security tools that finance professionals need. Three unique features help DocSend’s VDR stand out when compared to cloud-storage providers and legacy VDRs.
1. Analytics and notifications that enhance usability
VDR users need insights into how external visitors are interacting with their files. DocSend shows who’s visited each data room and provides page-by-page document analytics, so users can better manage their external relationships. And as deals evolve, DocSend also lets users instantly notify viewers about any changes to data room documents. Users can send emails directly from their VDR to keep all parties in the loop and informed.
2. Customization features for your unique business
Modern data rooms should be customizable to meet unique business needs. DocSend’s VDR can be personalized with a logo and banner image, while being perfectly sized for even the thorniest deals. DocSend is constantly increasing file size limits and recently doubled VDR file-storage limits for Advanced and Enterprise users.
3. Multiple NDAs for different visitors
Data rooms often house companies’ most secure documents, so it’s crucial that external visitors sign non-disclosure agreements. But what happens when different visitors require varying types of security? DocSend’s VDR lets users upload multiple NDAs so they can have peace of mind knowing that their company’s most important files can be safely accessed by visitors who have signed the right documentation for their needs. Users can even require NDAs for certain files or folders while keeping others public.
Usability, Customization, Security
It’s never been easier to create and manage a VDR to drive finance transactions. However, usability need not come at the cost of security or analytics. A middle ground for modern data rooms can accommodate all these priorities in one cost-effective solution, all while allowing companies to tell better stories. Create your own VDR here to see what the data rooms of today can look like.