Have cold feet about committing to a virtual data room provider? It’s understandable. You want the best bang for your buck. But how can you tell if a VDR has all the features you’ll need? How about those efficiency-optimizing features you didn’t know you needed but you’ll love to have?
To be fully transparent, yes, we are a virtual data room provider here at CapLinked. Are we biased toward our own product? Absolutely. But at least give us the chance to tell you why. We’ll give you a non-exhaustive rundown of why our VDR solution ticks all the ‘must-have’ boxes and what makes CapLinked worth your time and money.
Here’s a breakdown of the top features to look for when choosing a virtual data room:
Spoiler alert: CapLinked has all of these features and more.
Intuitive UX Design
Choosing a virtual data room with a thoughtfully designed interface goes beyond mere convenience of use. A user-friendly experience – or lack thereof – can literally make or break a deal.
Imagine: You’re trying to sell a high-dollar asset to an important buyer. You send them a link to a lengthy document stored in your VDR, asking them to review and add comments. However, when they try to access the document, they first have to download a plugin. Once they’re finally in, they struggle to navigate the interface, can’t figure out how to make comments, and call you in frustration, asking you to explain. You get on and try to walk them through it, only to realize it’s more complicated than you thought to provide make-shift text support on this system that seems designed exclusively for tech whizzes. Even if the deal doesn’t sour, you can sense tension building and time running down the drain.
“From a business perspective, prioritising the user experience results in happier customers who remain loyal over time. This in turn achieves higher conversion rates and increased revenue, lower development costs and an overall stronger, more competitive brand,” says the UX Design Institute.
The same principle applies to fostering loyalty with employees, stakeholders, business partners, and other entities interacting with your organization.
Find a VDR that is easy for your internal and external parties to navigate and implement. That way, the VDR will be a valued asset instead of a dreaded liability.
Layers of Security
One of the primary advantages of VDRs over standard cloud-hosted document storage is advanced security.
Still, not all VDRs use the same security measures. Find a VDR provider that incorporates sophisticated security features and certifications, including:
- Military-grade 256-bit encryption
- SSAE18 certification
- ISO 27001-compliant servers
- HIPAA and SOC 2 compliance
- Advanced administrator controls
- Plugin-free technology (reduces vulnerabilities and cancels the need for software updates)
Prioritize security by finding a VDR provider that stays on the cutting edge of the industry’s most secure methods and is backed by verifiable credentials.
Productivity Boosters
Beyond the goal of enhanced security, companies interested in incorporating VDR technology should also consider the efficiency-boosting opportunities that the right VDR can provide.
A handful of our favorite productivity-enhancing features include:
- Q&A – Get a VDR with built-in Q&A to simplify the back-and-forth iterations of any project. Assign a user to answer a question to maximize organization, minimize confusion, and accelerate the process.
- Instant messaging – Find a VDR that lets you communicate with all relevant parties on one simple platform.
- FAQ notifications – Look for a VDR that allows you to post FAQs to a central information hub and even notify your users so everyone stays on the same page.
- Project management – Invest in a VDR that lets you outsource your project management functions, streamlining the tedious tasks involved with coordinating complex projects.
- Configured alerts – Use a VDR that helps you keep all parties in the loop through configured updates for game-changing collaboration.
Still, these few time-saving features are just the tip of the VDR iceberg. Don’t settle for a VDR solution until you find one that’s flush with all the bells and whistles.
Customizable to Your Industry & Organization
No two organizations – even from the same industry – are exactly alike. Shop around to find a VDR provider with the chops to customize the platform to the needs of your organization.
For example, you’ll need a VDR that supports configurable document organization to match the preferred file structure of your operations.
Another must-have feature is customizable watermarking. A customized watermark will help your organization add another layer of protection to sensitive documents while projecting professionalism to all viewers.
Cutting-Edge Digital Rights Management
In today’s business climate, digital rights management (DRM) is more critical than ever. A robust VDR platform can revolutionize your organization’s DRM policies.
“Businesses may use DRM technology to encrypt critical documents ranging from contracts and strategic plans to secret personnel information. It allows users to restrict access to files and trace who has accessed them, as well as prohibit them from being changed, saved, duplicated, or printed,” explains Geeks for Geeks. “DRM facilitates companies in securing sensitive files and safeguarding their privacy.”
Find a VDR with DRM technology supporting encoded files and access control settings defined by the owner or copyright holder of a document. A VDR should be outfitted with DRM software that allows you to revoke a user’s access to a document at any time. You retain control of when and if a document is used, copied, edited, and printed. That way, you don’t have to fear the aftermath of a deal gone awry or a disgruntled former employee.
Simplified Legal Compliance
The best VDR solutions take complex processes, like demonstrating due diligence, and make them achievable. Whether you’re facing an M&A, raising capital, restructuring, or managing intellectual property rights, a carefully chosen VDR can help you keep track of all document activity with a fully auditable trail.
Convenient API Integrations
Do you want to get the security-enhancing features of a VDR without having to replace all the other familiar tools in your IT landscape? Find a VDR that offers user-friendly API integrations.
For example, you may want to look for VDR software that offers these integrations:
- Dropbox
- Microsoft Office365
- Microsoft OneDrive
- Google Drive
- Salesforce
- Box
Invest in a VDR solution that allows API integration with any application, including apps in Java, Ruby, C++ and more.
Lightning Fast Setup
Your time and resources are precious. Find a VDR company that respects both by offering a lightning-fast setup.
With CapLinked, setup takes less than 10 minutes. There are no plug-ins necessary, so you won’t need to download anything. User training typically requires just 45 minutes or less. The learning curve is minimal, and the interface is intuitive, making it a realistic and valuable solution for organizations representing all industries.
Enterprise-Level Scalability
Locate a VDR software platform that is robust enough to grow with you. CapLinked offers customizable enterprise-level VDR solutions to equip expansive organizations with the exact tools they need.
For example, our enterprise-level features include:
- White glove capabilities
- Real-time virus scanning
- Unlimited protected data
- Priority tech support
- Personalized onboarding
- Data migration and setup services
- Much more
Beyond the software features, what makes CapLinked your top VDR choice?
Trademarks of a Top-Notch VDR Platform Provider
At CapLinked, we’re all about the technical bells and whistles but also about maintaining a solid reputation in our industry. Here are just a few highlights that verify our standing:
Big Name Clients
Top firms and gobalized organizations including Orrick, Thomson Reuters, and Microsoft use CapLinked. We support the business operations of over a quarter million professionals from more than 75 countries.
Comprehensive Customer Support
At CapLinked, we have so much confidence in our product that we offer 99.95% guaranteed uptime service level agreements. We also furnish our customers with a dedicated tech support team backed by customer success managers who work to ensure full user satisfaction.
Varied Case Studies
CapLinked is used by Fortune 1000 companies representing an array of industries, including:
- Finance
- Investment banks
- Legal
- Life sciences
- Natural resources and heavy industry
- Private Equity
- Venture Capital
- More
Check out our Case Studies to see our repertoire.
Glowing Reviews
We’ll let our client reviews speak for themselves:
- “CapLinked has saved us time and money with its ease of use, customer support, and innovative technology.” – Jason Portnoy, Managing Partner at Oakhouse Partners
- “Caplinked is state of the art when it comes to sharing documents with customers. Platform is intuitive and easy to navigate. Accessing and sharing documents has now become a seamless process and at the same time tremendously secure. Customer support is very helpful and will walk you through any questions you may have.” – Paul R. Inside Sales Manager
- “We deployed CapLinked to support our lender and shareholder reporting after we sold our firm in 2013. It has been very helpful to us and enabled paperless reporting, lender audits, and more. We saved more in report production and distribution costs than the service cost us.” – CFO, Sokolove Law
(Insert mic drop.)
Competitive Pricing
In the same vein as the last review, our competitive pricing offers a lot of value and has the potential to yield a high ROI. Our software can effectively pay for itself.
Trusted Virtual Data Room Software: CapLinked
If you’re looking for VDR software with all of the features highlighted in this article and beyond, look no further than CapLinked.
Still have those cold feet? No worries! You can try before you buy, just to make sure you want to stick with us (and we think you will!).
Start your 14-day free trial today to get a taste of our game-changing VDR platform.
