A VDR is an electronic data storage space that allows documents to be shared between buyers and sellers. It’s a vital tool for M&A transactions and also life science firms and private equity firms that have to discuss sensitive information with partners or customers.
The best VDRs come with a variety of features that ease the M&A process and improve the odds of completing the deal. They can, for instance let participants view documents simultaneously, rather than having to look at stacks of papers, and they can be accessed via laptops, desktops, or mobile devices. This can reduce the time required to finish due diligence, and save money and effort.
When choosing a VDR provider, consider the way your team works and where it might require additional assistance. For example, if you’re seeking a VDR that supports e-Signature Choose one that has an in-built solution. Sending draft contracts via email or using a 3rd-party eSignature provider increases the risk associated with the process.
Search for a VDR with simple tools to manage document access including search, logging and logging. Check that the application can handle large volumes of documents, offers fast browsing speeds, and allows you access documents on multiple devices. Make sure you choose a vendor that has a high uptime and excellent customer service. Ideally, they should have a team that speaks your language and is able to respond quickly to inquiries or issues.