The VDR platform offers a new way to work on multi-document agreements that can involve many participants. It’s time to put aside endless email threads where documents are thrown over the fence, or changes are constantly overlooked or overwritten. Instead, all parties have the ability to review and comment on the same documents within a secure virtual data space while having access to all crucial documents. It’s easier to see potential deal issues and opportunities when everything is organized and transparent. With FERPA compliance and GDPR compliance HIPAA compliance and eIDAS built-in, it’s now easier than ever to meet all regulatory requirements in M&A.
A great vdr should be one that has a modern user interface that is easy to use and can be used on tablets, desktops and mobile devices. It should also offer familiar functionality like drag and drop publishing, an extensive choice of file formats support as well as a simple data space to set up. It should also provide security features like active watermarking, 2-step authentication to prevent theft of passwords, audit logs, secure connections to the internet (https ://),) and 24/7 monitoring.
A good VDR should also provide end-to-end capabilities to help your process from review of the target to closing and integration. It should also allow access control, for example specific roles, restrictions and announcements. It will also be able to monitor and limit rubber stamping, and downloading sensitive information, to safeguard you against unauthorized parties. This is a feature which is often left out by other VDRs.