If it’s due diligence in M&A transactions, fundraising or sharing case files to aid in litigation, the virtual data room makes the process of sharing documents easy and secure. Not all VDRs however they’re not all created equal. To ensure that your due diligence experience is as pleasant as you can make sure you choose a VDR with the features you need.
VDRs are often used by law firms to manage multiple cases, and review large volumes confidential documents. In these cases it is essential to be able to quickly add new users is important. A good provider will also allow you to easily assign permissions based on each user’s specific role. In addition, a virtual information room should permit users to upload documents, description as well as upload redaction forms, and branding elements.
Another crucial feature is granular activity tracking, which allows users to track who opened the particular document. This improves transparency and stops leaks. Some providers permit users to add watermarks, and require users to sign access agreement before viewing.
It’s essential for companies in the pharmaceutical and biotech industries to have a trusted and reliable online platform that can be used to save and share sensitive documents in the course of mergers and purchases and partnerships or even when raising funds. A trusted virtual data room will assist you in creating an environment that is safe and secure to accomplish this goal, and can also provide useful collaboration tools, such as a Q&A section and document annotation.
iDeals is a virtual dataroom that blends user-friendly features with transparent pricing and dedicated customer service teams is an excellent example of how to combine these elements to facilitate due diligence. This includes in-app support for phone, email and multilingual support.