The VDR platform opens up a new way to work on multi-document agreements that can involve any number of parties. It’s time to put aside endless email threads where documents are tossed over the fence, or changes are always ignored or rewritten. Instead, all participants have the ability to review and comment on the same documents in a safe virtual data room while having complete access to the most important documents. Then, with everything organised and transparent it’s much easier to determine potential deal issues or opportunities. And with FERPA and GDPR, HIPAA and eIDAS compliance staples built in it’s much easier to comply with all the regulations that are required in M&A.
A great vdr should be one that has a modern user interface that is easy to use and is accessible via tablets, desktops and mobile devices. It should also offer familiar features such as drag-and drop publishing, support for file formats in various formats, and a simple data room configuration. It should also offer security features like active watermarking, 2-step authentication to prevent theft of passwords, audit logs, secure connections to the internet (https ://),) and 24/7 monitoring.
A reliable VDR should also provide end-to-end capabilities to assist your process, from review of the target to closing and integration. It should also include access control options such as custom roles for end users, restrictions, and announcements. It should as well control the rubber stamping process and download of sensitive information to shield your data from unauthorized access. This is an option that is often neglected by other VDRs.
