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Virtual Data Room is an online repository that’s used for storing and distribution of documents. It is often used in due diligence processes in M&A transactions such as loan syndication, private equity and venture capital deals. VDRs offer a safe and secure platform for sharing sensitive information with third parties.
When choosing a VDR pick one that has a variety of pricing options. Some VDR providers charge a flat fee per month, whereas others charge per page, storage or user. Some also offer unlimited plans that permit users to upload and access as much data as they wish.
Find a company that offers robust security features including antivirus, multifactor authentication and malware detection. Advanced encryption is also an option to look for. You should also be able define permissions at the level of a file folder. This gives you the flexibility to limit access based on the team members, project or business unit.
Then, think about ease of access. A reliable VDR will have an intuitive configuration that is accessible to both the C-suite and accountants who are just starting out. Look for customizable UI colors and reports that can be customized in order to highlight important information.
During the M&A stage, investment bankers and advisers share piles and piles of documents with regulators and investors. The best VDR solution lets them manage document management, streamline tasks and automate processes from one centralized location. This reduces risks and increases efficiency in communication across teams. Due diligence is also more efficient and transparent.
