How to Set Up a Virtual Data Room

Virtual data rooms are an efficient way of sharing documents with third parties during due diligence as well as other M&A transactions. However, how effective this solution is depends largely on how well it’s configured and utilized.

Choose a VDR that was designed with sharing seriousness as a priority. It should provide a range of tools to allow users to upload and share large quantities of files. It should allow administrators to create folders as well as document indexes with ease. It should also have advanced search features that helps to quickly locate documents. The service should allow users to print and download PDF documents that contain watermarks. Administrators should be able track the times when documents are printed and downloaded.

When choosing a vendor be sure to consider whether they offer an annual subscription or single-use transaction. A subscription that is annual offers more flexibility and lower ownership costs. It also eliminates the possibility of price increases that are unexpected during the life of the contract.

A good VDR will support multiple browsers and platforms like Mac and Linux. It must be able to handle any format of file. It should also be simple to customize a virtual dataroom’s appearance and feel with personal branding.

Verify that the VDR is fitted with high-quality security features to prevent unauthorised access. For instance, the service should offer multi-factor authentication and user security impersonation. In addition administrators should be able to set a session limit which will automatically close the user’s session after an amount of time inactivity.

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