When it concerns business operations, a virtual data room (VDR) is like a magic wand that improves the effectiveness of a variety of processes, including RFPs, compliance audits, due diligence, board reports and fundraising with low risk and expense. Its secure files, organization and monitoring of user activities reduce the time-consuming printing and editing, and courier services, while decreasing the costs of hosting data.
Think about the number of users as well as the type of files you’ll uploading before choosing the best VDR. Some VDRs charge flat fees per user, while others charge based on how many files are uploaded. You should also consider the length of time you intend to use the platform; some companies will only require access for a short period of time while others will keep it open for a long time.
The best deal room online has a simple and intuitive interface that is easy to use by users with any level of expertise. They also facilitate bulk uploads of files, and automate the workflow following. Some even come with features like Q&A capability with customizable NDAs as well as the ability to control access in a granular manner.
FirmRoom is a popular option for M&A projects and has an easy-to-use interface. It supports a wide range of file formats, and offers drag-and-drop features. It also integrates with Salesforce and Slack. It is GDPR, ISO 27001 and HIPAA certified. Intralinks on the other hand is well-known for its scalable and robust software and its capability to manage large M&A transactions.