A virtual data room can help make the M&A and Biopharma deal-making process easier for all involved. However before a broker or adviser decides to recommend a virtual data room to their clients, it’s important to be aware of its pros and cons. Comparing VDR providers is also a great idea, both on their website as well as on comparison websites. This will allow you better understand the features each vendor provides. Many vendors provide the list of their features that allow users to view the entire image without having to contact client support for information.
Some of the most effective features include a robust encryption during transport and at rest, customizable watersmarks and remote shred. These security measures help discourage hackers from gaining access to sensitive information. Other features include granular permissions for users as well as two-factor verification. There are also features that help keep the administrator updated on the latest activity. Fence view, for example, prevents an authorized user from taking secret photos of documents or looking behind a colleague.
The top virtual data room providers provide 24/7 customer service via a variety of channels including email and phone. This allows for quick response no matter what the time of the day or what language a customer is in. In addition, many providers provide additional services that could save the client money when they are bundled with the software for data rooms. These additional services are worth it if you want to make a high profile deal or improve the efficiency of their company.