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.
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.