www.dataroomsystems.com/how-to-set-up-a-corporate-portal-and-maximize-its-potential-to-drive-growth/
A virtual dataroom (VDR) is a cloud-based repository for documents and other files. It can be used to share sensitive business information like during mergers and acquisitions. Due diligence processes such as fundraising rounds, due diligence processes and financial audits are frequent. VDRs offer greater security and control than traditional physical storage and can reduce costs.
When selecting the best VDR provider, make sure you select one with a robust and broad set of features that satisfy the needs of your company. For instance, you should consider whether the software is in line with ISO 27081 standards, has robust virus and spyware scanning and boasts an 99.9 percent uptime. Multifactor authentication can be used to ensure that the data uploaded is safe. Look for customization features such as color-coding features to assist in identifying documents during internal meetings, or at-a glance reporting that provides executives in the C-suite with the comprehensive overview required.
A VDR is used most often during M&A transactions, where potential buyers go through a lot of documents of the companies that are being sold. M&A virtual data rooms facilitate the most efficient due diligence process and reduce the risk of a breach by restricting access to confidential information to only those people who need to access it. When conducting an M&A transaction users also benefit from the ability to collaborate effectively with a VDR’s questions and answers and comments sections. This improves productivity and speeds decision-making. Additionally, M&A VDRs enable you to have complete and comprehensive audit trails, which are essential for M&A due diligence.
