The VDR platform opens up an entirely new way of working on multi-document transactions that involve any number participants. Don’t get bogged down in endless email threads with lots of documents tossed over the wall and changes being overlooked or overwritten during the process. All stakeholders can view the identical documents in a safe virtual dataroom while being able to access all the important documents. With everything organized and transparent, it’s easier to quickly identify potential deal issues or opportunities. And with FERPA and GDPR, HIPAA and eIDAS compliance features it’s now easier than ever to comply with all the regulatory requirements that are needed in M&A.
A great vdr should be one that offers a modern, intuitive interface that can be used via tablets, desktops, and mobile devices. It should also provide familiar features like drag and drop publishing, a wide range of file formats supported and simple data room setting up. It should also offer security features like active watermarking, 2-step authentication to avoid theft of passwords, audit logs, secure browser connections (https ://),) and 24/7 monitoring.
A good VDR should also provide end-to-end functionality to support your process, from review of the target through to closing and integration. It should also allow access controls, such as individual roles, restrictions and announcements. It will also be able to monitor and limit rubber stamping, and downloading sensitive information, to protect you against unauthorized parties. This is an essential feature that is often left out of other VDRs.