Virtual Data Rooms are online repositories that are used to save and distribute documents. It’s typically used during due diligence procedures in M&A transactions such as loan syndication, private equity and venture capital deals. VDRs are an extremely secure and safe method to share sensitive information with third-parties.

When selecting a VDR provider, make sure you choose one that provides multiple pricing options. Some VDR providers charge a flat rate per month, whereas other charge per page, storage or user. Some plans offer unlimited data access and uploading, allowing users to access as much data as they want.

Search for a partner that offers a robust security feature such as antivirus, multifactor authentication and malware scanning. Advanced encryption is also an option to look for. You should also be able create permissions at the level of a file folder. This gives you the flexibility to limit access according to the team members, project or business unit.

Take into consideration the ease of use. A good VDR will have an intuitive configuration, and will be accessible to the C-suite as well as accountants with a basic education. Look for customizable UI color schemes and at-a-glance reports that can be customized to highlight crucial information.

During the M&A stage advisers and investment bankers are required to share piles and piles of documents with regulators and investors. With the right VDR, they can manage document management and streamline processes while automating processes from a central point. This increases the communication between teams and decreases risk. It also improves efficiency and transparency during due diligence.

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