Virtual data rooms offer an efficient way of sharing documents with outside parties in due diligence and other M&A transactions. The effectiveness of the service will be depends on the way it’s configured and used.
Choose a VDR service that has been designed with serious sharing in mind. It should provide a broad selection of tools that allow users to upload and share large quantities of files. It should permit administrators to create folders and indexes in a snap. It should also feature an advanced search feature which helps users locate documents. The service should allow users to download and print PDF files that contain watermarks. Admins must be able track when documents are printed and downloaded.
Take into consideration whether a vendor provides one-time transactions or an annual subscription when selecting the vendor. A subscription that is annual offers more flexibility and lower ownership costs. It also eliminates the risk of unexpected price increases during the duration of the contract.
A good VDR can work with a variety of browsers and platforms, including Mac and Linux. It should also work with any file format. It should also be easy to modify a virtual dataroom’s look and feel using personalized branding.
Verify that the VDR is equipped with robust security features to prevent unauthorized access. For instance, the service should provide multi-factor authentication as well how to set up a virtual data room as user security impersonation. In addition administrators should be able to set a session limit that will automatically end the user’s session upon an amount of time inactivity.