Virtual data rooms are vital for M&A transactions due to the volume of confidential data that needs to be shared. However it is true that not all VDR providers are made to be the same. Some are more expensive and have different features and functions.
To pick the most effective virtual deal room, take into account the size of your project or transaction. If you are dealing with large amounts sensitive information it might be worthwhile to invest in an VDR that is more reputable and adaptable. Before making a decision you can also consider the security features available through the VDR. The most secure VDRs include features such as two-factor authentication and granular access controls and dynamic watermarking. Certain VDRs have built in document viewer that lets you look over documents directly from the VDR.
Also, you should look for an VDR that can support multi-project management. This will let you use the same VDR for a few projects simultaneously, including an capital raising round or an M&A transaction. Certain VDRs provide advanced analytics and reporting to monitor the user’s behavior.
Also, take a look at customer support. The best VDRs offer 24/7 support via email, phone, and live chat. There are also self-service help centers as well as onboarding support to ensure a seamless project experience. Select a VDR which is compatible with all major operating systems including iOS, Android, Windows and macOS. Also, read reviews (with a grain of salt) and ask the company to provide a free trial so you can try their features in person.