Setting up the virtual data rooms is a crucial component of the M&A process as it allows businesses to easily share documents and speed up due diligence. In addition, it saves on time and money that could be spent printing, scanning, and sending documents via email. These cost-saving benefits allow M&A transactions to be completed faster, and the expected synergies to be realized sooner.

It is essential to determine which roles of users will be able to access the VDR, and which documents they can access. Acquirers, for example, need access to financial statements and business plans to assess the target company. Therefore, they should have access to all the files while investors only need to access certain documents. To further secure sensitive files such as sensitive data, a virtual data room should have a watermarking feature and an auditability feature to prevent leaks of data.

When organizing the virtual room, it’s important to make use of templates for folders and an easy-to-use and clean directory. Users can find documents more easily using the due diligence checklist and subfolders. Another helpful VDR feature is indexing, which tags documents with keywords or metadata which can be used to quickly locate them. Finally, VDRs that support version control ensure that users have the most recent version of a document.

A virtual data room must also include a robust question and answer function that enables all parties to arrange questions and respond efficiently. Administrators are then able to quickly respond to any new inquiries and keep the same information from being be retransmitted.

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