A virtual data room can help make the M&A and Biopharma dealmaking process a lot smoother for all parties. Before any advisor or broker suggests a VDR to a client, it’s important to know the pros and cons. Comparing VDR providers is also a good idea, both on their website and on comparison websites. This will help you to better understand the features each vendor has to offer. Many vendors include the list of their features that allow users to view the entire image without having to contact client support for information.
Some of the most valuable features include strong encryption both in transit and at rest, custom watermarks, and remote shred. These security measures stop hackers from gaining access to sensitive information. Other features include granular authorizations for users as well as two-factor verification. There are other features that keep the administrator aware of any activity. For instance, fence view helps prevent an authorized user from secretly taking pictures of documents on the screen or peeking over the shoulder of a colleague.
The best virtual data room providers provide 24/7 customer service through a variety of channels such as email and telephone. This allows quick response no matter what time it is or in which language the client speaks. Furthermore, many providers offer additional services that help the client save money when they are bundled with the data room software. These additional services are worth it if the client is looking to get a prestigious deal or improve the efficiency of their business.