They are certified providers that provide secure cloud-based software that includes document repositories. They have the digital standards needed to keep documents for business online. They provide advanced security features, including granular permissions control, and facilitate collaboration between team members as well as external parties. They are a necessary tool for due diligence in mergers and acquisitions (M&A) and fundraising and many more.
A good become an effective manager VDR will have an intuitive, clear user interface, as well as an app for mobile devices that makes it easy for the users to navigate to upload files and search for information quickly. They should also offer a number of support resources like training materials, FAQs, and a customer service team that can help with any issues or queries. Depending on the plan, they can provide live chat or phone support, and be available anytime during business hours or 24 hours.
Certain VDR providers are focused on specific industry needs. For instance, Intralinks offers unique features specifically designed for companies in the pharmaceutical and biotech industries. CapLinked is another example, which is specialized exclusively in M&A transactions that involve mid-sized to large-sized businesses. Other VDR providers, like DataSiteOne and Firmex have years of experience facilitating M&A deals for Fortune 500 companies. Others, such as Ansarada are experts in international transactions.