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A virtual dataroom can streamline M&A due-diligence and other securing document sharing processes by making it easier for bidders to participate with each other, reducing timeframes and increasing the chance of success. There are many VDRs however all are created to be the same. Use the following guidelines to help you choose the best VDR for your requirements:

It is simple to configure and easy to use.

A user-friendly and easy interface allows users from all departments to use the platform, without needing to be trained. Look for a company that provides 24/7 support, so that any issues can be quickly resolved. You should be able to search your documents, view them with an excellent viewer, and assign permissions easily. Avoid vendors that charge exorbitant fees per page or per user.

Advanced security features

Online data rooms that are secure offer advanced encryption and security to secure your data. Look for a data room provider with features such as multi-file redactions, AI contract analysis, watermarking and scanning for viruses. These features allow you to conduct a thorough and secure due diligence with confidence.

Many vendors also have a full lifecycle management system that allows you to collaborate, communicate and manage projects. This makes them ideal for M&As as well as other complex transactions that require extensive documentation and collaboration among multiple teams. Choose a company that provides a project management system integrated to streamline and control the entire process. Find a provider who has a proven track record of customer satisfaction, and the list of clients includes some of the top firms.