Online data rooms are platforms that allow businesses to store and share confidential documents during M&A transactions. These virtual platforms provide administrators with access to granular security features, such as like two-factor authentication encryption of data, and other features to make it easier for them to manage and monitor document activity. These virtual platforms also provide an audit log so that users can track who has viewed documents, what they’ve done with them and when.
Most VDRs have an easy-to-use interface and users with access rights can access anytime. Storage capacity and feature sets vary among providers. Be sure that the provider you choose offers enough space for your due diligence process and that they provide comprehensive technical and product support.
For example, Digify prioritizes security with features like dynamic watermarking and screen shielding. It also encrypts documents and provides an audit record of all activities on the platform. Digify can also allow users to restrict access based on IP address and time. These features allow administrators to have more control over their due diligence process.
A VDR can help a company improve its chances of success in an M&A deal by allowing investors with access to the globe. It can also assist to negotiate a more favorable cost than they might be able.
However the sheer volume of information can impede the process of making decisions, particularly when it’s difficult to understand. Luckily, PandaDoc can help you simplify your M&A process by linking your online data room to documents and eSignature software. Find out more by scheduling a demonstration today.