In today’s highly competitive business environment due diligence can be the most time-consuming and complicated part of an acquisition. Whether you’re a venture capital firm looking to invest in a promising startup or overseeing the process of loan syndication the amount of documents you need to look over can quickly add up. Virtual data rooms are becoming increasingly popular due to their ability to allow multiple parties to safely exchange sensitive information during various procedures like M&A joint ventures, fundraising or joint ventures.

When choosing a VDR make sure you select one with an intuitive user try this interface. The platform should be compatible with desktops, laptops and mobile devices to ensure that all parties have access to the same platform and work as they please. It is also important to ensure that the platform is protected by strong physical and online security measures.

Some VDRs, for example, come with advanced features that prevent unauthorised users from taking screenshots on their computers or tablet. Administrators can also set file permissions that expire at a certain time or date. By combining Information Rights Management (IRM) with remote access, users are able to “shred” documents so that they aren’t accessible to anyone even if they had previously had access to them.

Also, you should find out how a specific VDR vendor performs in real-world scenarios. It is important to read online reviews on sites such as G2 and Capterra to get an honest opinion about the service providers. Request demos from prospective vendors to see how the software will fit into your workflow and how simple to use.