When it’s time to select a data space provider, companies may consider not only storage capacity and features but also accessibility and quality technical and support for the product. These small distinctions may seem like a minor thing but could be game changers when it’s time to conduct a high stakes transaction.
Data rooms are being utilized by a broad variety of industries. Data rooms aren’t just used to facilitate due diligence during M&A transactions, but they are increasingly being utilized for other critical activities like divestitures and fundraising.
When selecting a data room provider, it is important to make sure that the software meets international standards. This includes things like two-factor authentication and timed access expiration, multiple permission levels, IP address-based security and more. Also, it is important to consider the customer support provided by a VDR. Ideally, they should be available 24 hours a days and 365 days a year and be able to answer any questions or concerns.
A reputable online deal room solution can provide a range of reports that detail the activities of users. This is a great way for administrators to see what documents have been reviewed by who and at what time, assuring that confidential information is secured. Additionally established virtual data rooms could include a variety of additional features that aren’t usually found in standard file-sharing software or physical data rooms. This includes adding watermarks to files, preventing downloads from being disabled, removing screenshots and more.