M&A transactions often require sharing massive amounts of data with many stakeholders. A virtual data room is a secure file sharing platform that simplifies due diligence processes, enhances effective collaboration, and reduces risks and costs for both parties. A VDR provides advanced security features like multi-factor authentication as well as session timeouts and restrictions. It also facilitates streamlined M&A compliance and document management.
A VDR is also a great option to share confidential documents without having to worry about violating privacy or compliance regulations. A company may require communication with an executive member who does not use the same technology. In these situations the use of a VDR can facilitate the exchange of critical content to happen via email secure file sharing managed file transfer, or application programming interfaces (APIs).
VDR providers offer a variety of pricing options, including per storage, per page and per user. The best option for you depends on the amount of data you want to store, the number of users you’d like to invite, and any additional features that you may require. It’s a good idea to select an organization that offers a comprehensive trial for free, so you can experience the capabilities of the software and see how it performs to your needs.
A VDR should have a simple, intuitive configuration that is as easy for a CFO to understand as it is for an accountant at the entry level. It should also provide an array of deployment options, including one sign-on option for all projects. Additionally, it should provide assistance 24/7.