A virtual data room provider is crucial for M&A transactions because of the sheer volume of confidential data that need to be shared. However, not all VDR providers are made identical. Some are more expensive and provide various features and functions.
Consider the size of the project or transaction when selecting the most suitable virtual deal rooms. If you’re dealing large amounts of sensitive data it could be worthwhile to consider a VDR that is more reputable and flexible. You can also look at the security features of a VDR before making a decision. VDRs with the highest degree of security feature features like two-factor authentication and granular access control. Some even have built-in document viewers to allow you to review documents within the VDR itself.
Additionally, look for an VDR that can support multi-project management. This will allow you to make use of the same VDR for a few projects simultaneously, for instance an capital see here raising round or an M&A transaction. Certain VDRs offer advanced analytics and reporting that observe user behavior.
Also, take a look at customer support. The best VDR providers offer 24/7 support that can be reached via live chat, phone and email. Some VDR providers also provide self-service help centres as well as onboarding support for an effortless project. Make sure you choose an VDR that is fully compatible with all major operating systems, iOS, Android, Windows and macOS. Also, read reviews (with taking a pinch of salt) and request a no-cost trial to test the features.