VDR checklist to look for in a VDR vendor

Virtual data rooms (VDRs) save businesses valuable time, money and effort. They help companies safely share confidential documents and manage intellectual property concerns. Data security issues can make or break corporate deals, shape reputations, and otherwise affect a company’s future. That’s why it’s so important to make sure you select an experienced vendor that will help you protect your information and your business.

Mergers & acquisitions are a very complicated, time consuming procedure as the entire process can take months or in some cases even a year & there is lot of data that is used & transferred to different individuals as it’s not just one decision, but many, over & over. Sophisticated Virtual Data Room like DocullyVDR come in handy during M&A as it eliminates complications, saves time and makes all the M&A process easy, convenient & fast. But there are few things that you need to investigate in your virtual deal data room before finalizing & making any decision regarding your M&A like VDR due diligence checklist.

VDR checklist: Things to look for in a VDR vendor

• Easy to use:

Privacy of company documents is the most important aspect of for all business. With good VDRs like DocullyVDR will actually make data sharing & storing very easier than other traditional methods. There are many other features like organizing your documents, uploading & viewing your important files & documents which include easy drag & drop, bulk upload and the ability to sync folders from the cloud. Access can be given to anyone at anytime by the authorised individual. Threats like loss of data & data breach are dealt with very easily. All these features not only helps the business to save their data and other important stuff but also is very useful for businesses during a business deal as they consume very less time to complete the transactions.

• Easy Access & Control:

Easy but safe access & control over documents for authorised individuals is one of the most important aspect to look for in a VDR vendor. Lot of different individuals require access tovarious documents & sensitive information easy access & control over these documents helps save valuable time. Availability of access & control of the documents on different devices like mobile phones, tablets, etc. is also a very important aspect to check for in a VDR as control over sensitive documents is a very powerful thing when it comes to file sharing. With DocullyVDR we make everything easy for you with our anytime, anywhere access & control to key data & insights. We enable you to maintain control over your data, make sure you can set detailed user permissions for your projects and allow IT teams to give different levels of access to different people within and outside of a company.

• Reporting:

Reporting is another feature that shouldn’t be overlooked when considering a data room provider. A good data room will show you file history and provide valuable insights

• Easy In-Room communication, Security & Support:

During important business deals, employees often work around the clock to make things happen. The best virtual data room providers like DocullyVDR are able to support you 24/7, all throughout the year too. This level of service is what separates great virtual data rooms from average file storage options.

Data security is one of the primary threats to modern businesses. Failing to spot an issue ultimately
leads to a cyber breach that can also cause huge damage to the reputation of a business and could
ultimately destroy the value of an M&A transaction. It therefore goes without saying that security is
one of the most important features of a deal data room.

You should always look for the best virtual data room providers that offer high levels of encryption. Also, make sure your deal room uses a two-step authentication processes during the login. “A password alone will not protect sensitive information from hackers–two-factor authentication is also necessary”. Another way to secure your data is through watermarks and restricted view functions. This will help protect your documents from unauthorized viewing and screenshot capture. Some VDRs can even alert you of such suspicious activity.

The best virtual data room services offer the Q&A feature in their virtual data room.  This eliminates you sending emails and wasting time with other forms of communication. Moreover you have access to detailed Q&A reports that can help you infer future behaviour based on Q&A activity.

Intellectual property accounts for as much as 80 percent of a company’s value. It’s no surprise then that safeguarding data has to be your top priority. And a well-planned strategy for data sharing can help businesses succeed. So it’s imperative that you select your virtual data room vendor diligently only after scrutinizing it on all parameters viz technology, security, service and pricing. DocullyVDR has proved it’s mettle globally across all these parameters and is considered one of the best virtual data room services provider globally.