How to Set Up a Virtual Data Room

How to Set Up a Virtual Data Room

Virtual data rooms are an efficient way to share documents with external parties during due diligence or other M&A transactions. The effectiveness of the solution will be will depend on how it’s configured and used.

Choose the VDR that was created with serious sharing as a primary goal. It should offer a broad range of tools that enable users to upload and share documents in bulk. It should also allow administrators to easily build folders and create indexes of documents. It should have a powerful search tool that allows users to find documents quickly. The user should be able to download and print PDF files with watermarks. Administrators should be able to track when documents are printed or downloaded.

Take into consideration whether a vendor provides only one-time transactions or an annual subscription before choosing a vendor. A subscription with an annual term offers more flexibility and lower cost of ownership. It also eliminates the risk of price increases that might occur during the duration of the contract.

A quality VDR will support multiple browsers and platforms like Mac and Linux. It should be able to handle any format of file. Additionally it should be easy to alter the appearance and feel of a virtual data room using customized branding.

Check that the VDR has robust security features to prevent unauthorised access to your information. For instance, the service should provide multi-factor authentication as well as user security impersonation. It should also allow administrators to set a session timeout, which will shut down the user’s session if they are not active for a specific period of time.

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