A virtual dataroom can make the M&A or Biopharma dealmaking process much smoother for everyone. However, before a broker or advisor decides to recommend a VDR to their clients, it’s essential to be aware of its advantages and disadvantages. It is also recommended to evaluate VDR providers on their website and through comparison websites. This will allow you to better comprehend the features that each vendor has to offer. Many vendors provide a list of their features that allow users to view the entire image without having to contact support at the client level for details.
Some of the most effective features include strong encryption both in transit and while at rest, customizable watermarks, and remotely shred. These security measures stop hackers from getting access to sensitive information. Other features include granular user permissions as well as two-factor authentication. There are also features that keep an administrator informed of activity. Fence view, for instance is a feature that prevents authorized users from secretly photographing documents or peering behind an employee.
The best virtual data rooms offer 24/7 customer support through a variety of channels including email and telephone. This allows for quick responses at any the time of day or what language a customer is speaking. In addition, many providers provide additional services that could help the client save money when they are bundled with the data room software. These additional services are worth it if the client is looking to make a high profile deal or increase the efficiency of their organization.