As an M&A advisor, you are aware that the process of due diligence is usually long and laden with documents. Your clients require access information quickly and efficiently. You should recommend an online room with features like view as, user permissions that are simple to use and modern interfaces. This will save them time and money and assist them with the process.
Another feature to look for in an VDR is activity reports. These reports can show you who has looked at or saved, printed, or downloaded documents. This will help ensure internal control and safeguards the privacy of sensitive information. A good VDR lets you make your documents watermarkable or to disable the print and download functions completely. These are crucial features to think about during due diligence and can prevent leaks.
Finally, make sure the VDR is compatible with your client’s preferred platforms and devices. This is especially important if there are several team members working on a deal. A good VDR should function equally on iOS and Android, Windows, and macOS, without the need to install any additional plugins.
Also, make sure to read reviews of the VDRs you’re considering prior to making your choice. It’s crucial to know which reviews were written by actual users and their experiences been and how helpful the reviewers found the vendor. You should also know which vendors have third party certifications like ISO 27001, SSAE 16 and ISAE 3402 as well as where their servers are located.