Virtual data rooms provide an efficient way of sharing documents with other parties during due diligence and other M&A transactions. The efficiency of the solution be depends on the way it’s configured and used.
Choose the VDR that was created with serious sharing as the primary objective. It should provide a broad variety of tools that allow users to upload and share large quantities of files. It should also permit administrators to build folders easily and create document indexes. It should also include advanced Virtual Data Room search features that makes it easier to find documents. The provider should allow users to download and print PDF files that include watermarks. Administrators should be able keep track of the time at which documents are downloaded and printed.
Check if a vendor offers one-time transactions or an annual subscription when selecting a vendor. A subscription that is annual offers more flexibility and lower cost of ownership. It also eliminates the risk of unexpected price increases during the duration of the contract.
A reliable VDR will support multiple platforms and browsers including Mac and Linux. It should also work with any file format. It should also be able to modify a virtual dataroom’s appearance and feel with personalized branding.
Make sure that the VDR has robust security features to prevent unauthorized access to information. For example, the provider must provide multi-factor authentication, as well as user security impersonation. Additionally, it should allow administrators to set a session limit that will automatically end the user’s session after an amount of time inactivity.
