The VDR platform provides an entirely new method of working on multi-document transactions which involve any number of participants. Forget endless email threads with batches of documents being tossed over the fence and changes being overlooked or overwritten throughout the process. Instead, all participants can access and comment on the same documents in a secure virtual data space while having complete access to key documents. Once everything is organised and transparent, it’s easier to quickly detect potential deal problems or opportunities. With FERPA, GDPR, HIPAA and eIDAS compliance features it’s much easier to meet all legal requirements in M&A.
A good vdr is one that offers a modern user interface that can be used on tablets, desktops and mobile devices. It should also include common features such as drag and drop publishing, a broad range of file formats supported as well as a simple data space set up. It should also include security features like active watermarking as well as two-step authentication for preventing password theft audit logs, secure browser connections (https ://), and 24/7 monitoring.
A reliable VDR should also include end-to-end functionality to support your process, from the review of the target to closing and integration. It should also provide access controls such as custom end user roles, restrictions and announcements. It must also restrict and monitor rubber stamping, downloading sensitive data, and protect you from unauthorized parties. This is a feature that is often ignored by other VDRs.