How to Set Up a Virtual Data Room

Virtual data rooms are a great way to share information with third parties during due diligence or other M&A transactions. However, how effective this solution is depends largely on how it’s set up and used.

Choose to choose a VDR designed with serious sharing as a priority. It should offer a variety of tools to allow users to upload and distribute files in bulk. It should also permit administrators to quickly create folders and create document indexes. It should also come with advanced search features that makes it easier to find documents. The ideal solution is to enable users to print documents and download PDF documents with watermarks. Admins must be able track the time when documents are printed and downloaded.

When selecting a vendor, be sure to consider whether they offer an annual subscription or single-use transaction. A subscription that is annual offers more flexibility and lower ownership costs. It also eliminates the risk of price hikes that could occur during the duration of the contract.

A reliable VDR will support multiple browsers and platforms like Mac and Linux. It must be able to handle any format of file. It should also be able to customize a virtual dataroom’s look and feel using customized branding.

Verify that the VDR is equipped with the most robust security features to block unauthorized access. For instance, the provider should provide multi-factor authentication as well as user security impersonation. It should also allow administrators to set a session timeout, that will automatically end a user’s session if they’re not active for a specific period of time.

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