Virtual Data Room Features

A virtual data room is a secure platform that allows you to store, share and collaborate on documents. Modern VDRs include a range of features to aid in organizing and managing the information you keep. They include drag-and-drop as well as two-way syncing that allows you to have an area up and running in a matter of minutes. Additionally, you can have restricted access privileges, print and save controls monitoring of all actions, sophisticated Q&A and reports ensure seamless collaboration.

Due diligence is the most popular application of the VDR during M&A transactions. The sell-side has to review and provide the buy-side with documentation for the transaction, and both parties require a location to do it in a safe environment.

Other important features of a data space include:

Document labels. Adding and managing labels will help you organize your files into a folder structure which makes finding the data easier. Certain VDRs also offer indexing automatically, which can make the task of organizing thousands of files even faster.

Search functionality integrated. Searching in a VDR can help you locate the information quickly. Some VDRs also have advanced features, for instance, an instant scroll-through viewer that makes document viewing faster. Certain VDRs also allow you to filter documents based on metadata or extensions for files.

Customer support. If you require assistance with a specific feature or just have general questions about how to use the data room, look for a service that provides 24/7 support through in-app chat or via phone or email. Some providers have teams committed to dealing with the most complex issues and providing professional assistance.

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