With the growing popularity of hybrid and remote working, many organisations are shifting to virtual data rooms as a method to share documentation with authorised parties. These platforms serve as a data repository that is collaborative and are often used in due diligence processes. They are also useful for other business functions such as restructuring and fundraising.

When choosing a VDR, look for features to help your team stay on track and productive. Consider the amount of storage space you’ll require based on the anticipated amount of documents. Also, consider if the provider allows you change the size of your folders to meet your needs. Look for a company that can offer granular permissions to access files and an audit log that tracks each time a document is opened or opened. Some providers offer features such as watermarks that discourage leakage following download.

It’s essential to have a secure platform that permits users to share and collate documents during due diligence. It’s important to check whether your service provider has an Q&A feature that allows buyers can ask questions directly to the team on the seller’s side. You’ll save time and money by not having to plan meetings or chase down answers.

You should also consider a service provider that offers technical and product support. This will help ensure that you can make the most of your VDR and fix any issues as they occur.