A virtual data room can aid in making the M&A and Biopharma dealmaking process more efficient for all parties. However, before a broker or adviser decides to recommend one to their clients, it’s important to be aware of its pros and cons. Comparing VDR providers is also a great idea on their websites as well as on comparison websites. This will help you better understand the features each vendor provides. Many vendors offer a list of features that allow users to see the whole picture without having to call customer support.
Some of the most valuable features include a robust encryption system in transit and at rest, watermarks that can be customized, and remote shred. These security measures help discourage hackers from gaining access sensitive information. Other features include granular permissions for users and two-factor authentication. Additionally, there are tools that keep the administrator current in regards to activity. For instance fence view prevents an authorized user from sneakily taking pictures of documents on the screen or peering over the shoulder of a colleague.
The top virtual data room providers provide 24/7 customer service through a variety of channels such as email and telephone. This allows quick response regardless of what time it is, or in which language the client speaks. Additionally, many providers include other services that can help the client save money when they are bundled with the software for data rooms. These additional services can be worth the price if the client is attempting to attract attention or to improve efficiency within their business.