A virtual data room could aid in making the M&A and Biopharma dealmaking process a lot more efficient for all parties. Before a broker or advisor recommends one to their client, it is important to know the pros and cons. Comparing VDR providers is also a great idea, both on their website and via comparison websites. This helps to make a better understanding of the features each vendor offers. Many vendors offer an array of features which allow users to have a complete picture without the need to contact support.
Some of the best features include a robust encryption in transit and at rest, customizable watersmarks, and remotely shred. These security measures can deter hackers from getting access to sensitive information. Other features include granular authorizations for users and two-factor authentication. There are features that keep the administrator updated on the activity. For example fence view is a way to stop an authorized user from surreptitiously taking photos of documents on the screen or peering over the shoulder of a colleague.
The top virtual data rooms offer 24/7 customer service via a variety of channels including phone and email. This allows for a quick response regardless of what time it is, or in what language the customer speaks. Additionally, many providers include additional services that can help the client save money when they are bundled with the software for data rooms. These extras can be worth the cost if the client is attempting to attract attention or to improve efficiency within their company.