An online data room is a digital platform that lets businesses can store and distribute confidential documentation during M&A deals. These virtual platforms provide administrators with the ability to grant granular access, security measures such as two-factor authentication, encryption of data, and other features that make it easier for users to track and manage documents activity. Virtual platforms also have an audit log where users can keep track of who has viewed documents and what they’ve done to them, and the date they were viewed.
The majority of VDRs offer a user-friendly interface and authorized users are able to access anytime. Storage capacity and feature sets differ between providers. Be sure that your chosen provider has enough space to accommodate your needs and provide extensive technical and product support.
Digify for instance it puts security first by incorporating features such as dynamic watermarking and screen shielding. It also secures documents and gives an audit trail of all actions on the platform. Additionally, Digify gives users the possibility of limiting access to users by IP or time. These features give admins greater control over their due diligence process.
A VDR can boost a company’s chances of success during an M&A deal by providing investors with access to potential investors from all over the world. It could also help them negotiate a better deal for their company that they would otherwise be able to negotiate.
However there are many details that can slow down the decision-making process, especially if it’s difficult to decipher. Fortunately, PandaDoc can help you streamline your M&A process by linking your online data room to electronic signature software and document creation software. Find out more by scheduling a demo today.