A virtual dataroom is an online service that allows companies to share confidential documents and files. These tools can be utilized for a variety of projects however, they are particularly beneficial during due diligence for mergers and acquisitions. These tools can make reviewing easier and more affordable, since buyers do not need to travel to offices to see a large amount of documents.
A good VDR allows you to keep sensitive information secure and safeguard it by providing granular control over access and two-factor authentication. It also keeps track of all activity through an exhaustive audit. This can prevent leaks of information, and provide peace of mind when negotiating a deal. It is also recommended to look for a feature that allows you to include watermarks on documents to hinder downloading and printing. This is an essential feature for a bank, for example, because it helps protect their reputation from the danger of sensitive information being lost to the wrong hands.
It is also important to choose a platform which supports both desktop and mobile devices. This is essential for your team and ensure that users benefit the most from the tool. You should be able to customize the interface and build folder structures to organize different categories of documents. Additionally, you should consider the possibility of allowing electronically signed documents. This is an important feature for financial professionals and makes it easier to close deals.