A virtual dataroom is a software that allows you to securely store, share, and collaborate on documents. Modern VDRs come with a host of features that assist you in managing and organizing the information you keep including two-way sync and drag-and-drop capabilities that can get the room up and running in mere minutes. In addition, granular access privileges, print and save controls as well as tracking of all actions, and sophisticated Q&A and reports ensure seamless collaboration.
Due diligence is the most common use of a VDR during M&A transactions. The seller side must review and provide the buyer with the documentation of the transaction, and both parties require a facility to do this in a controlled space.
Other important data room features include
Document labels. The addition and management of labels will enable you to organize files into folders that makes finding information easier. Some VDRs provide automatic indexing, which makes it easier to organize thousands of files much faster.
Search functionality integrated into the. Using search in the VDR helps you quickly find the information you need and certain VDRs have advanced features like an instant scroll-through viewer which speeds up the process of viewing documents. Additionally, certain VDRs allow you to filter files according to their metadata or based on their extension.
Customer support. If you have questions about the specific feature or general question regarding how to make use of the data room pick a service that provides 24/7 assistance via email, phone or in-app chat. Some companies even have dedicated teams to handle the most difficult customer queries and offer professional advice.
