A virtual dataroom (VDR) is software that allows users to share secure documents and is used often in M&A due-diligence. It can also be useful for other projects that require an extensive amount of documents to be exchanged, such as real estate transactions or investment management. Choosing the best VDR service depends on your business and needs. Here are some of ma data rooms the important factors to consider:
A reliable VDR is compatible with all major operating systems and devices. It will also be simple to navigate and offer useful features that make it simple for users to navigate. There are other features, such as instant messaging, a dashboard and the ability edit Excel or Word documents within the platform. A secure fence view is another handy function that blacks out parts of a file so that personally-identifiable information remains private.
Permission settings are another important feature to be looking for. You want to be in a position to assign viewing printing, downloading, and viewing permissions to each file. You must be able to monitor activity through detailed reporting and insights.
Some of the best VDRs offer expert technical support. This is incredibly valuable when you’re trying to manage multiple projects with tight deadlines. You don’t want an issue with your technology to delay the process, whether you’re doing M&A due diligence or simply trying to close one. This is why it’s a smart idea to determine whether the vendor has a phone support and how skilled and knowledgeable their representatives are.