A virtual dataroom simplifies M&A due-diligence as well as other sensitive document-sharing processes by making it easier for bidders to participate with each other, reducing timeframes and increasing the chance of success. Not all VDRs however all are made in the same way. Consider the following criteria to help you select the best VDR for your needs:
The configuration interface is intuitive and simple to use
A user-friendly and easy interface ensures that users across departments can utilize the platform without having to ask for training. Find a vendor that offers 24/7 support so that any issues can be swiftly solved. You should be able to search your documents, view them using a high quality viewer, and assign permissions easily. Avoid vendors that charge high costs per page or per user.
Advanced security features
Online data rooms that are dependable provide advanced encryption and security to protect your data. Choose a service with multi-file redaction, AI contract analytics watermarking, virus scanning, and role-based access control. These features enable you to conduct an extensive and secure due diligence with confidence.
Many vendors also have a full lifecycle management software that lets you to communicate, collaborate and manage projects. This makes them ideal for M&A as well as other complicated deals that require extensive documentation and collaboration among various teams. Choose a company that offers a project management solution that can be integrated to simplify and manage the entire process. Look for a vendor with a proven track record of customer satisfaction and an extensive client base that includes the top companies.