A virtual dataroom can help make the M&A or Biopharma dealmaking process much smoother for everyone. Before an advisor or broker recommends a VDR to a client, it’s essential to be aware of the pros and cons. It is also recommended to evaluate VDR providers on their own website and on comparison websites. This will help you get a better understanding of the features each vendor offers. Many vendors offer the list of their features that allow users to view the entire picture without having to contact customer support for more information.
Some of the most useful features include a robust encryption during transport and at rest, customizable watermarks, and remotely shred. These security measures help discourage hackers from gaining access sensitive information. Other features include granular access rights for users and two-factor authentication. There are also options to keep the administrator updated in regards to activity. For instance fence view is a way to stop an authorized user from surreptitiously taking pictures of documents on the screen, or peeking over the shoulder of a coworker.
The most reliable virtual data rooms provide 24/7 customer support through a variety of channels like email and telephone. This allows for a quick response no matter what time or in which language the client speaks. A lot of providers offer additional services with their data room software, which can save clients money. These additional services can be worth the price when the client is trying to get attention-grabbing deals or boost efficiency in their organization.