The most crucial business transactions require a significant amount of information to be examined and promptly shared. If this sensitive information falls into the incorrect hands, it could end up causing a loss and cost a business revenue or market share. That’s why it’s essential to ensure that only those who are authorized to review the proper information at all times. A virtual data room can be very useful in this situation. A virtual data room (VDR) can help streamline due diligence and M&A processes, while also protecting confidential data.
A VDR is an online repository that holds business-critical files securely and allows restricted access to internal or external stakeholders. It also minimizes the risk of unauthorized file sharing by providing security-first features such as multi-factor authentication, session timeouts, document-level permissions, watermarking, view only modes, screenshot blocking and granular activity reports. A VDR is a great solution for M&A due diligence and other high-risk transactions.
VDR providers vary in terms of features, ease of use, and cost. The best options for businesses are those that can offer an integrated repository that allows for flexible data permissions, detailed activity reports, and custom metadata. They should also provide support and security certifications that will ensure the security of documents in case of an incident.
Datasite, RR Donnelley and Intralinks are the most well-known providers. Each offers a robust feature set and tools for M&A However, their pricing differs widely. Digify for instance, has a small set of features that have a complex price structure.
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