How to Set Up a Virtual Data Room

Virtual data rooms are a great method of sharing information with third parties in due diligence or other M&A transactions. But how effective the solution is will depend on how well it’s set up and used.

Choose a VDR that was designed with sharing seriousness as a top priority. It should provide a range of tools to allow users to upload and distribute documents in bulk. It should permit administrators to create folders and indexes with ease. It should also have advanced search features which helps users locate documents. Ideally, the service should let users print documents as well as download PDF documents with watermarks. Admins must be able track when documents are printed and downloaded.

Consider whether a vendor offers one-time use transactions or an annual subscription when you choose a vendor. An annual subscription provides more flexibility and a lower cost of ownership. It also eliminates any risk of price hikes that could occur during the duration of the contract.

A quality VDR should support a variety of browsers and platforms including Mac and Linux. It must also work with any file format. Additionally, it should be easy to customize the look and feel of the virtual data room by using personal branding.

Make sure that the VDR has strong security features to prevent the unauthorized access of information. For instance, the provider should offer multi-factor authentication and user security impersonation. Additionally, it should allow administrators to configure a session timeout which will automatically close the user’s session upon the specified time of inactivity.

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