They are certified suppliers who offer secure cloud software, including document repositories. They adhere to the digital standards that are required to store documents for business use online. They offer advanced security, such as granular control of permissions, and allow collaboration between team members as well as external parties. They are a necessary tool for due diligence in mergers and acquisitions (M&A) and fundraising and many more.
A quality VDR has an intuitive user interface that is clear, as well as an app for mobile devices that makes it easy for users to navigate, upload files and find information quickly. They should also have a number of support resources like training materials as well as FAQs and a customer service department who can help in any issue or query. Depending on their plan they may provide live chat or email support. They could also be available during normal business hours or 24 hours a day.
Some providers of vdrs have a specific focus on specific industry needs. For example, Intralinks offers unique features specifically designed for companies in the biotech and pharmaceutical industries. CapLinked is another example that specializes exclusively in M&A transactions that involve mid-sized to large-sized companies. Other VDR providers, like DataSiteOne and Firmex have a wealth of experience in facilitating M&A deals for Fortune 500 companies. Others, such as Ansarada are experts in international transactions.