The VDR platform offers a new way to work on multi-document transactions involving any number of participants. It is no longer necessary to keep track of endless email threads in which documents are tossed across the fence, or changes are constantly overlooked or overwritten. All stakeholders can view the same documents in a secure virtual dataroom while having access to all essential documents. It’s easier to see potential deal problems and opportunities when everything is organized and clear. And with FERPA GDPR, FERPA, HIPAA and eIDAS compliance staples built in it’s easier than ever to satisfy all the regulatory requirements required in M&A.
A great vdr should be one that provides a contemporary, intuitive interface that can be accessed on 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 an easy data room configuration. It should also provide security features like active watermarking, two-step authentication to prevent password theft audit logs, secure browser connections (https ://), and 24/7 monitoring.
A good VDR should also offer end-toend capabilities to assist your process, starting from the review of the target through to closing and integration. It should also allow access controls, such as custom roles for end users, restrictions and announcements. It will also be able to monitor and limit rubber stamping and downloading of sensitive information, to protect you from unauthorized parties. This is an option which is often left out by other VDRs.