You’ll likely come across VDR reviews as you research, whether you’re an advisor to clients or a member of an M&A team. Some are legitimate while others are fake, either to benefit a provider or to discredit them. Learning how to differentiate real from fake virtual data room reviews can save you a lot of frustration and money.
The best VDR will allow you to meet your M&A due diligence goals and other delicate transactions without the requirement of an actual meeting. It can also help you avoid the travel time and expense of a meeting. The best virtual data rooms offer specific user interface templates for various projects, and also have tools to streamline collaboration and document exchanges. They also have a range of security features that prevent sensitive information being shared. For example, a fence view feature which blocks certain areas of the file to prevent taking screenshots.
Some providers go beyond basic cloud storage software to aid in due diligence with features like in-app chat and phone, email and chat multilingual support dedicated teams and managers, and product videos. These are features that the majority of companies don’t think about, but they can be vital to the success of a deal.
The most effective VDRs have a range of AI features that can improve efficiency, improve accuracy, and improve the user experience. DFIN’s location, for instance is a combination of all your digital tools into one platform and allows you to see a complete file structure. It allows you to index and organize documents to make searching easier and its executive suite lets you view the entire project at in a glance. You can also control access with single sign-on and take down credentials as soon as an employee leaves the company.