M&A transactions require sharing large amounts of information with a variety of stakeholders. A virtual dataroom can be a secure platform for file sharing that streamlines due-diligence processes, improves collaboration and reduces risk and costs for both parties. A VDR offers advanced security features, including multi-factor authentication sessions, session timeouts, and location restrictions. It also permits an easier M&A compliance and document management.

A VDR is also a great option to share confidential documents without worrying about violating privacy laws or regulations. For example, a company may need to communicate with board members who do not have the same technology equipment. In these scenarios VDRs are a great option to communicate critical content via email, secure file sharing, managed file transfer or APIs.

VDR providers provide a variety of pricing options, such as per storage, per page and per user. The best choice for you depends on how much data you’d like to store, the number of users you would like to invite, as well as any additional features you may require. It is recommended to choose a vendor which offers a trial period for free so that you can try the software to see whether it’s suited to your requirements.

A VDR’s configuration should be simple and intuitive enough for both a CFO and an accountant in the beginning to comprehend. It should also have a wide range of options for deployment and one sign-on for all projects. It should also provide 24/7 support.

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