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It doesn’t matter if you’re an investment banker helping clients or a company’s M&A department, sharing sensitive documents beyond your firewall is an essential step in a variety of projects. A VDR, or virtual meeting room, is an online platform that is secure and can be used to assist with due diligence and increase your chances of closing an acquisition. It is crucial to select the most appropriate one for your company. A VDR which is not easy to use or efficient can slow down your work and cost you money.

When choosing a VDR Choose one that comes with basic features such as access control and management of files for users but also advanced options like redaction or fence view to stop leakage. It should also comply with the requirements of your industry, and offer a an easy and intuitive interface that is accessible to executives at the top of the pyramid as accountants at entry-level. In addition, you should find a company which offers a trial period for free and doesn’t charge for use after the trial period has ended. Avoid providers who offer complimentary drinks and other gifts as they may not be concerned with the quality.

You should first decide the length of your projects as well as how often you will be required to share confidential information with third parties. This will aid you in deciding if you’d like to buy a VDR which is only used for a single project or one that offers multiple deals. You should also consider whether you require any additional services, like consultations and training.