A virtual data space allows companies to share confidential documents securely with outside stakeholders, such as partners and investors. These tools are often used in M&A transactions as well as due diligence. Although many companies offer similar capabilities to their products, some make them specific to particular industries or transactions.
Selecting the right virtual data room service begins by understanding your needs and choosing a solution that will meet those requirements. Find features that are specific to your industry, such as customizable templates or compatibility of files. A reliable VDR will also allow you to handle multiple projects at once. This feature is useful when you’re conducting due diligence on multiple projects simultaneously or attempting to raise capital in multiple rounds.
For instance, Ansarada is a popular online data room which provides an all-in-one solution to due diligence and other business processes. Platforms offered by providers include advanced security standards, customized work flows and features based on role for Q&A. It also lets you manage multiple projects at a time and customize the user access rights per project.
Another option that is worth considering is popular data room providers Intralinks which blends the highest security and a simple collaboration. Infrastructure features include data encryption and virus scanning. The platform’s permissions are granular and central task tracking, lightning fast response times to questions and progress analysis help streamline the deal process. The company provides mobile access to its platform, as well as multilingual customer service. The team of the provider is also knowledgeable of international regulations. This translates into lower transaction costs and shorter TSA period.