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How to Set Up a Virtual Data Room

Virtual data rooms are a great method of sharing information with third parties during due diligence or other M&A transactions. The effectiveness of the solution will be will depend on how it is set up and utilized.

Choose a VDR service that has been designed with serious sharing in mind. It should provide a range of tools for users to upload and share large quantities of files. It should also permit administrators to create folders and create indexes of documents. It should include a powerful search tool that allows discover this users to quickly locate documents. Ideally, the provider should permit users to print documents and download PDF files with watermarks. Administrators should be able to track when documents are printed or downloaded.

Check if a vendor offers one-time use transactions or an annual subscription when you choose a vendor. A subscription that is annual offers more flexibility and lower costs of ownership. It also eliminates any chance of price increases that could occur during the term of the contract.

A reliable VDR should support a variety of browsers and platforms including Mac and Linux. It should also work with any file format. In addition it should be easy to customize the look and feel of a virtual data room with personalized branding.

Be sure that the VDR is equipped with security features that can block the unauthorized access of data. For instance, the provider should offer multi-factor authentication and user security impersonation. Additionally administrators should be able to set a session limit which will automatically close the user’s session following the specified time of inactivity.

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