Virtual Data Room is an online repository that’s used to store and distribute of documents. It’s commonly used during the due diligence process in M&A transactions such as loan syndication, venture capital and private equity deals. VDRs are secure, safe ways to share sensitive information with third-parties.
When selecting a VDR provider, choose one that provides multiple pricing options. Some VDR providers charge a flat cost per month, whereas other charge by the page or storage. Some plans allow unlimited access to data and upload users to access as much information as they’d like.
Choose a vendor with strong security features, such as antivirus and malware scanning and multifactor authentication as well as advanced encryption. You should also be able set permissions at the level of a folder. This allows you to restrict access based upon team members, project or business unit.
Think about the user-friendliness. A good VDR will have an easy-to-use configuration that is accessible to the C-suite and accountants who are just starting out. Look for customizable UI colors and at-a glance reporting that can be customized in order to highlight important data.
During the M&A stage, investment bankers and advisers have to share a mountain of documents with investors and regulators. The best VDR solution will allow them to manage document management, streamline tasks, and automate processes from one central location. This improves communication between teams, and reduces risk. It also increases efficiency and transparency during due diligence.
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