When deciding on which virtual data space to use for your due diligence process, opt for a product that offers an extensive feature set and a platform-adjustable. iDeals Solutions, for example is a platform that supports all-sized companies from different industries, and offers an intuitive user interface and flexible viewing options, and provides a free trial period to test their software before signing to a long-term contract. Moreover, their flat-fee pricing model and support for customers are ideal for M&A due diligence, as well as other important business transactions.
A data room must also have a logically planned file structure. To avoid messy files, think about making a folder structure that corresponds to the timeline data room due diligence of the project and splits the files according to their level of security (e.g., legal, financial and HR). This will allow contributors to find the files they require, and also ensure that all documents are included with diligence.
It is important to make sure that the platform will be secure for both internal and external users. Check if the provider’s security features include 256-bit AES encryption as well as data center uptime ISO 27001 certification, and digital rights management. Also, select a solution which allows you to manage the printing and download limits of documents and enable remote shredding.
It is important to have the most effective due diligence tool on the market no matter if your business is undergoing an M&A or capital raising or IPO. Look for a safe and simple, plugin-free and always available VDR that will simplify the process of due diligence and speed up the process of executing deals.