Virtual data room software provides a secure online space to share and collaborate on documents that are time-sensitive. Common use cases include document disclosure and review for M&A due diligence sharing legal documents with teams of lawyers for the purpose of cases and engaging prospects in sales processes.
Whatever the size of an organization regardless of its size, every business should consider investing in a VDR solution. A good VDR solution should include basic features like search, audit logs and shared files that are granular. More advanced features can help a business improve its workflow and improve efficiency. In addition, some vendors provide additional services that can help in facilitating a successful transaction. These may include support services, which may be provided at a reduced cost bundle with the virtual data room.
Some well-known companies that provide a wide range of functions include Brainloop, CapLinked and Securedocs. Each of them has a range of features that can help in the M&A process, including the ability to grant granular permissions, digital watermarking and audit logs. They can support a variety of kinds of files and are accessible in a variety of languages. They should be able to provide secure access via a web browser or their own mobile applications.
Custom branding and a comprehensive security are also beneficial features. For example the most reputable data rooms provide a remote mobile app wipe, proprietary file scanning engine to stop ransomware, and thorough audits. A good vendor will also be ISO 27001-certified and ensure that the platform is created to meet the requirements of its customers.