It is important to choose a virtual dataroom provider with a user-friendly interface with a short learning period. Check if there is a trial or fee-free period for the software. You can also read the reviews on websites that are not affiliated with the vendor to get an understanding of the company.

A great VDR will offer a variety of features including collaboration, file sharing and the ability to control security in a granular manner. Furthermore, the tool should be able to track uploads and usage, and transform audit logs into customizable reports to simplify project management. The solution should be backed by a 24/7 customer https://boardroomdirect.blog/saas-companies-acquisitions-best-practices-of-deal-management/ support service as well as a robust encryption package.

Firmroom is an online virtual dataroom that’s ideal for M&As or other transactions that are a bit information-rich. It offers flexible access rights, a powerful search tool and flexible access rights. It also facilitates secure document transfer and overcoming limitations in file size. It’s a good choice for large and mid-sized enterprises.

CapLinked is a top M&A VDR that lets users share documents with third party users and monitor activities in real time. It also has an advanced feature called “fence view” which blacks out certain areas of documents so that personally-identifiable information stays private.

Life science companies often merge with each other or raise funds, and require a VDR that protects their intellectual portfolios. One alternative is iDeals, which has a user-friendly interface and comprehensive functions, and also offers security certifications, such as ISO 27001 and SOC 1/2/3.