A virtual dataroom (VDR) is an application that permits users to share secure documents. It is frequently used in M&A due-diligence. It is also useful for other projects that require a large amount of documents to be exchanged, such as real estate transactions or investment management. The best VDR service for your industry and project is dependent on the requirements of both. Here are a few important factors to consider:
Adaptability
A reliable VDR is compatible with all major operating systems and devices. It will also be easy to navigate and offer useful features that make it simple for users to get around. There are other features such as instant messaging, a dashboard, and the ability edit Excel or Word documents on the platform. A secure fence view is another handy function that blacks out parts of a file so that personally-identifiable information remains private.
Permission settings are an essential feature to look for. You should be able assign viewing permissions for printing, viewing and downloading to each individual file. You must be able to monitor the activity with detailed reports and analysis.
Some of the best VDRs offer expert technical support. This is incredibly valuable when you are juggling several projects and have tight deadlines. Whether you’re dealing ma data rooms with M&A due diligence or simply trying close a deal you don’t want to be caught off guard by technical issues that could delay the process. It’s crucial to find out whether the vendor provides phone support, and how helpful and knowledgeable their agents are.