How to Set Up a Virtual Data Room

Virtual data rooms are a great method of sharing information with third parties during due diligence or other M&A transactions. However, how effective this solution is will depend on the way it’s implemented and used.

Choose a VDR service that has been built with sharing seriousness in mind. It should have a wide array of tools that permit users to upload and share files in bulk. It should permit administrators to create folders and indexes in a snap. It should include a powerful search tool that allows users to find documents quickly. Ideally, the application should permit users to print documents and download PDF documents with watermarks. Admins should be able to keep track of the time at which documents are downloaded and printed.

When choosing a vendor https://thatvdr.com/what-should-you-know-about-a-virtual-data-room/ think about whether it has an annual subscription or single-use transaction. An annual subscription offers more flexibility and lower cost of ownership. It also eliminates the risk of sudden price increases throughout the duration of the contract.

A quality VDR will support a range of platforms and browsers, including Mac and Linux. It must be able to handle any file format. It should also be able to personalize a virtual room’s look and feel using personalized branding.

Check that the VDR has strong security features that prevent unauthorised access to your information. The service provider should, for example, provide multi-factor authentication as well as user security impersonation. Administrators should also be able to set a session timeout, which will shut down the user’s session if they’re not active for a specific period of time.