As an M&A advisor you are aware that due diligence can be a long and document-heavy process. Your clients need access information quickly and efficiently. You should recommend a virtual room with features like view as well as user permissions that are easy to use and modern interfaces. This will save them time and money, and also help them with the process.
Activity reports are another aspect to look for in the VDR. These reports can reveal who has viewed, saved, printed or downloaded documents. This helps ensure internal control and secures sensitive information. A reliable VDR will also allow you to watermark documents, or disable the print and download options completely. These options are essential to be considered when performing due diligence, and will keep leaks from happening.
Also, make sure the VDR is compatible with the preferred devices of your client and platforms. This is especially important if you have many team members in the transaction. A great VDR can be used on iOS, Android, Windows and macOS without the need for additional plugins.
Before making a decision you should read reviews about the VDRs you’re considering. It’s essential to be aware of which reviews were written by actual users. You should also find out what they thought of the vendor and their experience. You’ll also want to know which vendors have third-party certifications like ISO 27001, SSAE 16 and ISAE 3402 and where their servers are located.
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