Choosing the right virtual data room is key to streamlining M&A due diligence, protecting sensitive business documents and enhancing collaboration. But with many options to choose from in cost, functionality, and ease-of-use, it’s easy to make mistakes that will cause delays to your project and money.
If you choose to purchase a VDR that spends more on drinks and other perks than the actual product it could result in an inferior service. This could be costly. The best VDR providers are more focused on their product and provide top-quality support than they are with offering complimentary drinks or other perks. This will allow your team to operate efficiently to save time and money.
M&A
In M&A deals, multiple parties must review large volumes of documents within a short time period. To prevent unauthorized access to confidential information, opt for a VDR with security features like multi-factor authentication, session timeouts and auto-expiration, document level permissions fence view, and watermarking. The best M&A data rooms provide advanced analytics and reports to reduce the burden of due diligence.
Life sciences
Biotech and pharmaceutical companies are faced with a rising amount of sensitive information, including clinical discoveries. A secure virtual data room that has granular user permissions and remote control of data allows companies to be compliant with HIPAA and GDPR regulations, while reducing M&A cost of transactions through an efficient and quick workflow. In addition the virtual data rooms simplify investor communication with informative investor portals and e-signature integration.