How to Set Up a Virtual Data Room

Virtual data rooms are an efficient way to share information with third parties in due diligence or other M&A transactions. But how effective the solution is depends largely on how it’s implemented and used.

Choose a VDR provider that was created with serious sharing in mind. It should have a wide selection of tools that allow users to upload and share files in bulk. It should also allow administrators to easily build folders and create www.thatvdr.com/what-should-you-know-about-a-virtual-data-room/ document indexes. It should include a powerful search tool that allows users to locate documents quickly. Ideally, the provider should let users print documents and download PDF files with watermarks. Admins should be able to monitor the time when documents are printed and downloaded.

When choosing a vendor be sure to consider whether they offer an annual subscription or a one-time transaction. A subscription that is annual gives you greater flexibility and lower cost of ownership. It also eliminates the risk of price increases that may occur during the term of the contract.

A good VDR will support multiple browsers and platforms including Mac and Linux. It must be able to handle any format of file. In addition it should be easy to modify the look and feel of a virtual data space by applying personal branding.

Make sure the VDR is equipped with security features that block the unauthorized access of data. The provider could, for instance, provide multi-factor authentication aswell as impersonation of the user. Additionally, it should allow administrators to configure a session timeout that will shut down the user’s session after an amount of time inactivity.