A virtual dataroom helps streamline M&A due-diligence and other sensitive document-sharing processes by making it easier for bidders to engage, reducing timelines and increasing the chance of success. However there are a few differences. VDRs are made equal. Be aware of the following criteria to help you choose the right VDR to meet your requirements:

Simple to use and simple configuration

A simple and comprehensive user interface allows users from all departments to access and use the platform, without the need for training. Look for a company that provides 24/7 support, so that any issues can be swiftly solved. You should also be able access your link documents using a high-quality viewer, browse them and easily assign permissions. Avoid vendors who charge astronomical costs per page or per user.

Advanced security features

Online data rooms that are secure provide advanced encryption and security that protects your information. Look for a data room provider that has features like multi-file redactions, AI contract analysis, watermarking and scanning for viruses. These capabilities allow you to conduct a thorough and secure due diligence with confidence.

Many vendors provide a complete lifecycle management tool that allows you to communicate, collaborate, and manage your projects. This makes them perfect for M&A as well as other complicated deals that require extensive documentation and collaboration between various teams. Choose a vendor that provides a project management system that can be integrated to simplify and manage the entire process. Find a company that has a proven track record of customer satisfaction and their client list includes the best companies.