Virtual data rooms software provides an online secure space for sharing and collaborating on time-sensitive documents. Common uses are document disclosure and review for M&A due diligence, sharing legal documents to law firm teams in preparation of cases and structural work with ma dataroom engaging potential customers during sales processes.
Every company, regardless of their size must invest in a VDR. A good option should include basic functions, including search, audit logs and more granular sharing. Advanced functions can help improve the workflow of a business and boost the efficiency of its processes. In addition, some vendors offer additional services to make a transaction more successful. These include support services, which can be offered as a cost-saving bundle with the virtual data room.
Some well-known companies that provide a wide range of features include Brainloop, CapLinked and Securedocs. All three offer a variety of features that can be useful in M&A processes, such as the ability to grant granular permissions as well as digital watermarking. They also support a variety of file formats and are available in a variety of languages. They should be able provide secure access via a web-browser or their own mobile application.
Other beneficial features include custom branding and complete security. For instance the most reputable data rooms offer remote wipes of mobile apps and a proprietary engine for file scanning to block ransomware, and comprehensive audits. In addition, a trustworthy vendor should be ISO 27001 certified and ensure that their platform is specifically designed to meet the requirements of their customers.