Virtual data rooms offer an efficient way to share documents with third parties during due diligence or other M&A transactions. However, how effective the solution is will depend on how well it’s set up and used.
Choose a VDR that was created with sharing seriousness as a top priority. It should offer a broad array of tools that permit users to upload and share documents in bulk. It should permit administrators to create folders and document indexes with ease. It should also include advanced search features that allows users to locate documents. Ideally, the service should permit users to print documents and download PDF files with watermarks. Administrators should be able to keep track of the time when documents are printed and downloaded.
When choosing a vendor, think about whether it has an annual subscription or a one-time transaction. A subscription that is annually renewed gives you more flexibility and lower ownership costs. It also eliminates the risk of price hikes that could occur during the duration of the contract.
A good VDR will support a range of platforms and browsers, including Mac and Linux. It should also www.thatvdr.com/best-virtual-data-room-providers-in-hong-kong/ work with any file format. It should also be able to alter a virtual dataroom’s appearance and feel by using customized branding.
Make sure that the VDR has security features that prevent unauthorised access to your data. The provider is, for instance, required to provide multi-factor authentication aswell as impersonation of the user. Administrators should also be able to set a session limit, which will shut down a user’s session if they’re not in use for a specific period of time.