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During M&A deals the virtual room is used to store valuable confidential documents. This type of private document could include sensitive company information, legal agreements and financial statements.

Check that your VDR is equipped with tools that streamline the review of documents and communications during due diligence. Look for integrated machine learning and artificial intelligence (AI) tools that will reduce the time needed for manual tasks, such as reviewing lengthy documents or looking for possible discussion points and deal-breakers. Each industry has its own set of regulations and guidelines that must be adhered to when performing due diligence. Choose a service provider that offers built-in features to ensure that the processes are in line with the highest standards.

Choose a vendor that gives you a robust set of permissions at the level of the document or folder. It is important to make sure that only the appropriate individuals have access to the information. For instance, a lawyer probably won’t have access to the same exact financial records as CFOs do.

Investors usually go through hundreds of presentation and investment proposals every month, and it’s vital to stand out by creating your documents in a way that’s as user-friendly as you can. Find a virtual dataroom with short messaging options or comments that don’t require investors to leave the platform in order to ask questions or to make comments.