M&A transactions require sharing large amounts of information with a variety of stakeholders. A virtual dataroom can be a secure platform for sharing files that streamlines due-diligence processes, enhances collaboration and reduces the risk and cost for both parties. A VDR provides advanced security features, including multi-factor authentication as well as session timeouts and restrictions. It also permits efficient M&A compliance and document management.
A VDR can also be used to share confidential documents with other individuals without the risk of violating compliance or privacy laws. A business might require communication with the board member who does not use the same technology. In these situations VDRs can be used to send important content via email, secure file-sharing, managed file transfer or APIs.
VDR providers offer a range of pricing options, including per storage, page and user. The best option for you depends on the amount of data you intend to store, how many users you’d like to invite, and any additional features that you may require. The best option is to opt for one that has a solid trial offer, so you can test the functionality of the software and determine how it performs to your needs.
A VDR should have a simple, intuitive configuration that is as easy for a CFO to understand as it is for an entry-level accountant. It should also provide a variety of options for deployment and one sign-on for all projects. In addition, it should provide support around the clock.