If it’s due diligence in M&A transactions, fundraising or sharing case files for litigation, using a virtual data room can make sharing documents easy and secure. Not all VDRs, however they’re not created equally. To make your due diligence experience as easy as it can be choose a service that offers the features you need.
Often, VDRs are used by law firms to manage multiple cases as well as review large volumes of confidential documents. In these cases it is essential to be capable of adding new users quickly. A good provider will permit you to assign permissions easily depending on the user’s job. A virtual data room will allow you to upload redaction forms, branding elements and a description of the document.
Granular activity tracking is another important feature. It lets you identify who has accessed a document. This allows for greater transparency and stops leaks. Furthermore, some providers provide the ability to add watermarks on documents and require users to sign a contract with the terms of access prior to viewing.
For companies working in the life science industry, like biotech and pharmaceutical it is crucial to have access to a trusted and secure online platform to store and share sensitive documents during mergers and acquisitions, as well as partnerships or raising funds. A trusted virtual data room will support you in creating a safe and dependable environment to do this, and will also provide valuable collaboration tools like an Q&A section or document annotation.
iDeals is a fantastic example of an online data room that combines user-friendly functionality with transparent pricing and dedicated support teams to make sure your due diligence process is running smoothly. This includes in-app telephone and email multilingual support.