Virtual data rooms are a popular way to share sensitive documents, including intellectual property, litigation files, financial documents and other. They permit users to keep track of granular activities, which allows them to determine which documents were accessed by who. This is beneficial for security audits. VDRs allow more participants to be involved than traditional datarooms. This reduces travel costs and enables companies to close deals more quickly.
M&A due diligence is one of the most frequent uses of the VDR and requires storing, reviewing and providing access to a wealth of documentation. In this case using a VDR like DFIN’s Venue designed for this purpose it is the ideal choice. It has advanced features such as AI functions that improve accuracy and efficiency, auto-indexing and digital watermarks as well as full-text search and automatic redaction. It also streamlines workloads through automation, and offers a single sign-on and a user interface that can be customized, and comprehensive reporting.
A VDR should also include a thorough recording of activities. This will aid in M&A due diligence and provide users a greater understanding of the document’s activity. Other key features of a quality VDR include chat in-app telephone and email multilingual support, as well as help centers with videos of the product. A good VDR also has flexible pricing plans like per-page and per-storage. It should also come with a robust collaboration suite which includes annotations, Q&As, and the ability for tasks to be assigned. You can make sure that your team has the tools required to accomplish their tasks, even if they work remotely or in the same time zone.