Virtual data rooms are a great way to share information with third parties during due diligence or other M&A transactions. However, how effective the service is depends on the way it's configured and utilized.
Choose a VDR designed with sharing seriousness as a priority. It should provide a range of tools that allow users to upload and share files in bulk. It should enable https://thatvdr.com/ administrators to create folders and document indexes quickly. It should also feature an advanced search feature that makes it easier to find documents. The ideal solution is to allow users to print documents and download PDF documents with watermarks. Administrators should be able monitor the time when documents are downloaded and printed.
When selecting a vendor, think about whether it has an annual subscription or a single-use transaction. A subscription with an annual term offers more flexibility and lower cost of ownership. It also eliminates any chance of price hikes that could occur during the duration of the contract.
A good VDR should be compatible with a range of browsers and platforms including Mac and Linux. It should also work with any file format. In addition it should be able to customize the look and feel of a virtual data room with customized branding.
Check that the VDR has robust security features to prevent unauthorised access to data. For instance, the service should offer multi-factor authentication and user security impersonation. Additionally administrators should be able to configure a session timeout which will automatically close the user's session following an inactivity period of a certain amount of time.