A virtual data room could help make the M&A and Biopharma deal-making process smoother for all parties. Before a broker or advisor suggests a VDR to a client, it’s important to be aware of the pros and cons. It is also recommended to evaluate VDR providers on their website and through comparison websites. This will help you get a better understanding of the features each vendor has to offer. Many vendors provide lists of features that allow customers to view the entire picture without needing to contact customer support.
Some of the most valuable features include strong encryption both during transport and at rest, custom watermarks, and remote shred. These security measures can deter hackers from gaining access to sensitive information. Other features include granular user access and two-factor authentication. Additionally, there are features that help keep the administrator current on the latest activity. Fence view, for instance is a feature that prevents authorized users from taking pictures of documents and peeking behind an employee.
The best virtual data rooms offer 24/7 customer support via a variety of channels, including email and phone. This enables quick responses at any the time of day or the language the customer is speaking. In addition, many providers provide additional services that could save the client money when combined with the data room software. These additional features can be worth the cost if the client is attempting to attract attention or increase efficiency within their organization.