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Virtual Data Rooms are online storage facilities that are used to store and distribute documents. It is often used in due diligence in M&A transactions such as loan syndication, private equity and venture capital deals. VDRs provide an secure and safe platform for sharing sensitive data with third parties.

When choosing a VDR pick one that has a variety of pricing options. Some VDR providers charge a flat amount per month, whereas other charge per page or storage. Some plans provide unlimited data access and uploading, allowing users to access as much data as they’d like.

Find a provider that offers a robust security feature such as antivirus, malware scanning and multifactor authentication. Advanced encryption is also an excellent feature to look for. You should also be able to assign permissions to the level of a folder. This lets you limit access to team members, project or business unit.

Also, think about ease of the use. A good VDR is one that has an easy configuration, and will be accessible to both the C-suite and accountants with a basic education. Look for a customizable UI color schemes and reports with a quick glance that can be tailored to highlight crucial information.

During the M&A phase advisors and investment bankers share piles of documentation with investors and regulators. With the right VDR, they can manage the management of documents and streamline their tasks while automating processes from a central location. This helps reduce risks and improves effective communications across teams. It also increases efficiency and transparency when conducting due diligence.