Virtual data rooms are vital for M&A transactions because of the sheer volume of confidential files that must be shared. Not all VDR providers provide the same features. Some are more expensive than others, and a few offer distinct features and functions that can make or break a deal.
To pick the most effective virtual deal room, consider the size of your project or transaction. If you’re dealing with large amounts of sensitive data, a more reputable and flexible VDR may be worth the investment. Before making a decision you should also think about the security features available through the VDR. The most secure VDRs come with features like two-factor authentication, granular access controls, and dynamic watermarking. Some even have an integrated document viewer that can help you review documents from within the VDR itself.
Also look for VDRs that support multi-project management. This will allow you use the same VDR to manage several projects simultaneously for example, an M&A deal and a capital-raising round. Some VDRs provide advanced analytics and reports to analyze user behavior.
Also, take a look at customer support. The best VDR providers have 24/7 support that is available via live chat, phone and email. Some also have self-service help centers as well as onboarding support to ensure a seamless experience. Select a VDR that is compatible with every major operating system, including iOS, Android, Windows and macOS. Also, read reviews (with taking a pinch of salt) and request a no-cost trial to try out the features.