A virtual data room (VDR) allows you to share sensitive documents in a secure manner and is typically employed in M&A due diligence. It is also beneficial for other projects that require a substantial amount of document exchange, like real estate transactions or investment management. Selecting the right VDR provider is dependent on your industry and requirements. Here are some key aspects to consider:

Adaptability

A reliable VDR is compatible with all major operating systems and devices. It will also be simple to navigate and include useful features that make it simple for users to get around. There are other features, like instant messaging, a dashboard, and the ability to edit Excel or Word documents within the platform. A secure fence view is another handy function that blacks out parts of a file so that personally-identifiable information remains https://boardroompros.com/what-do-you-need-with-onehub-data-room-overview/ private.

Permission settings are another important aspect to look out for. You should be able to assign viewing, printing, and downloading permissions to each file. You should also be able observe activity by providing detailed reports and data.

A few of the top VDR companies will grant you access to expert technical support which is essential when you’re managing multiple projects that have tight deadlines. It’s not a good idea to allow any technical issue to delay an acquisition, whether you’re doing M&A due-diligence or simply trying to close a deal. This is why it’s a smart idea to find out whether the vendor has a phone support and how competent and helpful their staff are.