A virtual dataroom (VDR) is software that allows you to securely share sensitive documents. It is commonly used in M&A due-diligence. It can also be useful for other projects that require a substantial amount of document exchange, such as real estate deals or investment management. Choosing the best VDR provider depends on your business and project requirements. Here are some of the essential factors to consider

Adaptability

A reliable VDR is compatible with all major operating systems and devices. It will be simple to use and come with many useful features. They include a dashboard as well as instant messaging and the possibility of editing Excel or Word virtual data room providers files within the platform. A secure fence view is another handy function that blacks out parts of a file so that personally-identifiable information remains private.

Permission settings are an important feature to look for. You want to be in a position to assign viewing printing, downloading, and viewing permissions to each individual file. You should be able monitor activities with detailed reports and analysis.

A few of the top VDRs offer professional technical assistance. This is incredibly valuable when you are juggling several projects and have tight deadlines. It doesn’t matter if you’re dealing M&A due diligence or simply trying close an acquisition it’s important not to be caught out by a technical issue that could impede the transaction. It’s crucial to find out whether the vendor offers telephone assistance, and how friendly and knowledgeable their staff are.