A virtual dataroom can help make the M&A or Biopharma deal-making process much more smooth for everyone. However, before a broker or adviser decides to recommend a virtual data room to their clients, it is essential to be aware of its advantages and disadvantages. Comparing VDR providers is also a great idea, both on their website as well as on comparison websites. This allows for better recognition of the features each vendor has to offer. Many vendors provide an overview of their features which allows users to see the entire picture without having to contact customer support to inquire about details.
Some of the most beneficial features include robust encryption in transit and at rest, custom watermarks, and remote shred. These security measures can deter hackers from gaining access to sensitive information. Other features include granular access rights for users as well as two-factor verification. Additionally, there are options to keep the administrator up to date with the latest activities. Fence view, for example stops an authorized user from taking photos of documents in secret or looking behind a colleague.
The top virtual data room providers offer 24/7 customer service through a variety of channels such as email and telephone. This allows for quick responses at any the time of day or what language a customer is in. In addition, many providers provide additional services that can save the client money when they are bundled with the data room software. These additional features can be worth the price in the event that the client wants to create a big deal or improve efficiency in their organization.