If you are a company seeking a virtual dataroom provider, it is important to select one that has all the features you require. Find features that will make your due diligence process more efficient and smooth.
If you’re conducting due diligence for multiple investors or potential acquirers you’ll want to make sure that all parties have the ability to review documents simultaneously, without making copies. This is difficult to do in physical documents, making virtual data rooms the ideal solution for M&A transactions.
You’ll want a virtual dataroom that includes a Q&A section. This lets parties submit questions and receive answers from your team on an encrypted platform. Certain VDR providers offer this feature as a part of their service, while others charge an extra cost for it.
A dashboard that shows important information about your project is another feature to think about. It can be helpful in monitoring your progress in due diligence and analyzing if you have met your objectives. The dashboard lets you decide when you should conclude your due diligence, and if your strategy needs to be adjusted.
The last aspect to think about is ease of use. Make sure that the virtual data room you choose is simple to navigate for all users. Review reviews on trusted platforms such as G2 and Capterra to see what real customers have to say about a vendor’s interface and how simple it is for various users.
