Virtual data rooms are safe online space that allows users to collaborate and share information on time-sensitive documents. Common use cases include facilitating document disclosure and review during M&A due diligence and sharing legal documents with teams from law firms for case preparation, and engaging prospects with content during sales processes.
- Advertisement -
Every company, regardless of their size and size, should consider investing in the use of a VDR. A good VDR solution should include basic functions like search, audit logs and the ability to share data in granular ways. Advanced functions can enhance a company’s workflow and increase the efficiency of the system. Some vendors also offer extra services to facilitate the sale. These can include support services that can be provided at a reduced cost bundle along with the virtual data room.
Brainloop CapLinked and Securedocs are among the most popular providers who offer a range of functions. Each of them comes with a set of features that aid in the M&A process, such as the ability to grant granular permissions, digital watermarking and audit logs. They can support a variety of kinds of files and are accessible in several languages. They should be able to offer secure access via a web browser or their own mobile apps.
Custom branding and a comprehensive security are a few other features that are useful. For instance, the most trusted data rooms offer remote wipes of mobile apps and a proprietary engine for file scanning to stop ransomware, and thorough audits. A reputable vendor will be ISO 27001 certified and ensure that the platform is designed for its customers’ needs.
