M&A transactions often require the sharing of large amounts of information with various stakeholders. A virtual dataroom is a safe platform for file sharing that streamlines due-diligence processes, improves collaboration and reduces costs and risks for both parties. A VDR offers advanced security features, like multi-factor authentication session timeouts, session timeouts as well as location restrictions. It also permits streamlined M&A compliance and document management.
A VDR can also be used to share confidential documents with external individuals without the risk of violating compliance or privacy regulations. For instance, a company might require communication with board members who don’t use the same technology equipment. In these situations VDRs are a great option to send important content via email, secure file-sharing managed file transfer or APIs.
VDR providers offer a variety of pricing options, such as per storage, per page, and per user. The best option for you is determined by how much data you plan to store, how many users you’d like to invite, as well as any additional features you may require. A good option is to select an option that comes with a free trial, so you can get the feel of the software and determine the way it will meet your needs.
A VDR should be a simple, easy configuration that is as easy for a CFO to understand as it is for an entry-level accountant. It should also provide a wide range of deployment options, and an option to sign-on with one click for all projects. It should also provide support 24/7.