What Makes A VDR Worthwhile?

A common question asked amongst those in the process of beginning a major company deal is why they need a secure virtual data room to perform the tasks that a platform such as email or Google drive can. It’s true; there is a variety of software that can offer a client the ability to upload and share documents amongst parties, however, cannot do it with the same level of efficiency and security as data room solutions when it comes to large scale transactions. Virtual data room providers work hard to offer a service that makes the document sharing process as easy and quick as possible for clients that need to move fast with their M&A or litigation.

So, a better question than “do I need a VDR?” for prospective clients to ask is “What makes a VDR worthwhile?”.

  • Efficient storing and sharing of confidential documents so that any party invited into the data room can review it easily.
  • Complex permission settings that allow the administrator to decide who has access to what information and for how long, so as to avoid any unwanted leaks or hacks.
  • Detailed reporting that shows how long certain users were viewing documents, allowing an individual to see the interest by investors that certain documents are garnering.
  • A high level of encryption and security compliances that help to keep data at rest and in transit secure, avoiding the interception of important information.
  • Features that offer security as well as seamless collaboration among parties, such as dynamic watermarks and disable print/download options.
  • Efficient Q&A feature that allows users to ask and answer questions directly within the room rather than having to fuss around with long and unorganized email chains during already arduous and complicated deals.

Unlike generic document sharing platforms, with the right provider, your virtual data room can become whatever you need it to be in order to make your deals smoother and faster to manage.