Online data rooms can be a great way to manage, store and share documents. They are perfect for any project that requires sharing sensitive information with third-party parties. For example, due diligence in M&A deals or fundraising. The life sciences sector is a good example. It handles intellectual property that requires careful handling. VDRs allow you to transmit documents securely online to investors or clients. This lets them quickly find the information they require.
Choose a provider that has strong security features, such as multi-factor authentication, as well as the option of restoring accidentally deleted files. Look for the option to «View As», which allows users to view their access rights prior to login. Certain vendors offer a range of deployment options to allow you to create a data room to a specific project or for a large group of users.
A great online dataroom will have a simple and intuitive configuration that is as simple to comprehend for a CFO as it would be for an entry-level accountant. It should also have a the flexibility to deploy and a single sign-on to all projects, and the capability to modify the logo along with the terms of service, logo and general data room appearance and feel. It is recommended to choose an agency that allows you to pay per page, or by the number users. This will eliminate any surprises.
A VDR with a smart-search feature will allow you to quickly locate a file within the platform, and also indexing features m&a due diligence assist administrators in organizing the structure of the room. Many VDRs also have Q&A features, which means that administrators can efficiently handle questions from their counterparts.