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Virtual data room providers come in a variety of shapes and sizes, with a wide variety of features that make them useful for different business processes. But despite their appearance not all virtual data room providers are created equal. In fact, small differences in functionality can make an enormous difference when your project is in the balance. That’s why it’s essential to review your options and find the VDR provider that provides the appropriate functionality for your needs.

Whether you are seeking to streamline your mission-critical processes and transactions, or to facilitate M&A due diligence, VDRs can aid you in achieving your goals. Here are a few points to consider when looking at VDR providers:

Find a VDR that can support the file extensions that you require to upload your documents. Some providers also provide additional services to ensure that your transaction is smooth, such as consulting and training. These are not required but they can save you time and money when your company is involved in a high-value or complex transaction.

Choose an VDR partner with robust security features that protect uploaded documents from disclosure and access by unauthorized persons. Features like encryption, multi-factor authentication and audit trails are vital to ensuring that sensitive data remains secure.

Find an VDR with detailed permissions for groups, users, and documents to ensure that only the appropriate people have access to the right document at the right time. It should also come with features that block downloads by unauthorized users such as dynamic watermarking, and locks to IP. Additionally, it should allow you to remotely revoke access after downloaded files have been opened.