A virtual dataroom (VDR) is an online secure repository which stores business documents. It allows data to be exchanged among parties in a secure environment. It also helps companies perform due diligence on M&A deals including loan syndication, private equity and venture capital deals. VDRs are also a viable alternative to datarooms that are physically located for the storage of documents in the event of disaster or when resources are not available.
During mergers and acquisitions, a significant amount of information gets shared between parties, including sensitive corporate documents and intellectual property. For compliance and privacy purposes this information must be secured. A VDR simplifies communication, safeguards data and ensures compliance. Select a VDR that is fully integrated into your workflows and IT systems. Firmex is like this a great solution that can be customized to reflect your brand’s style and provides highly adaptable interfaces. Choose a provider that offers 24/7/365 support, and has the expertise in the field to comprehend your company’s business processes.
Make sure that the VDR you are considering has granular settings for permissions according to user roles and what they must know. It should also allow MFA, and user login monitoring for monitoring the IP, device and location to identify unauthorized access. It should also include different reporting tools that can help your team gain insights from the VDR’s data. Not to mention, make sure that the platform is simple to use for both you and your potential investor or buyer.