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How to Set Up a Virtual Data Room

Virtual data rooms are an efficient method of sharing information with third parties during due diligence or other M&A transactions. How effective the solution can be depends on how well it’s set up and used.

Choose a VDR provider that was built with sharing seriousness in mind. It should provide a broad array of tools that permit users to upload and share large quantities of files. It should also allow administrators to create folders and indexes easily. It should also feature advanced search features which helps users locate documents. The provider should allow users to print and download PDF files that have watermarks. Administrators should be able track the times when documents are downloaded and printed.

When choosing a vendor consider whether it offers an annual subscription or a single-use transaction. A subscription that is annually renewed allows for greater flexibility and lower cost of ownership. It also reduces the risk of unexpected price increases during the term of the contract.

A reliable VDR will support a range of browsers and platforms including Mac and Linux. It should also work with any file format. It should also be easy to customize a virtual dataroom’s look and feel using custom branding.

Verify that the VDR is equipped with robust security features to prevent unauthorised access. For instance, the provider should provide multi-factor authentication as well as user security impersonation. It should also allow administrators to set a session timeout which will shut down a user’s session if they are not active for a certain period of time.

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