A virtual dataroom can aid in making the M&A or Biopharma dealmaking process much smoother for everyone. However before a broker or advisor decides to recommend a VDR to their clients, it’s important to be aware of its advantages and disadvantages. Comparing VDR providers is also a good idea, both on their website and through comparison websites. This will allow you to better be aware of the features each vendor provides. Many vendors offer the list of their features that allow users to view the entire picture without having to reach client support for information.
Some of the most effective features include a robust encryption in transit and while at rest, customizable watermarks and remote shred. These security measures can stop hackers from getting access to sensitive information. Other features include granular permissions for users and two-factor verification. There are also features that keep an administrator informed of activity. For example fence view is a way to stop an authorized user from sneakily taking pictures of documents on the screen or peeking over a colleague’s shoulder.
The best virtual data room providers offer 24/7 customer service through a variety of channels including phone and email. This allows for quick responses no matter what time it is or in which language the client speaks. Many providers include additional services with their data room software, which can save clients money. These additional features can be worth the cost when the client is trying to make a high-profile deal or improve efficiency in their organization.