A virtual dataroom can streamline M&A due-diligence as well as other sensitive document-sharing processes by making it easier for bidders to participate with each other, reducing timeframes and increasing the likelihood of success. Not all VDRs however all are created in the same way. Use the following guidelines to help you choose the best VDR for your needs:

The configuration is simple and intuitive to use

A user-friendly and easy interface allows users from all departments to access and use the platform without needing training. Find a vendor that provides 24/7 support, so that any issues can be swiftly solved. You should be able to search your documents, open them using an excellent viewer, and assign permissions easily. Avoid vendors that charge high costs per page or per user.

Advanced security features

Online data rooms that are reliable provide advanced encryption and security to protect your data. Look for a provider with multi-file redaction, AI contract analytics and virus scanning, watermarking and access control based on role. These features let you conduct an efficient and secure due diligence with confidence.

Many vendors provide a complete lifecycle click for source management system that allows you to communicate, collaborate, and manage your projects. This makes them perfect for M&As as well as other complex deals that require extensive documentation as well as collaboration across a variety of teams. Look for a vendor that offers a project management solution integrated to streamline and manage the entire process. Choose a vendor that has a track record of customer satisfaction, and who’s client list includes some of the top firms.