Choosing a VDR for Buyers and Sellers

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A VDR is an electronic data storage space that permits documents to be shared between buyers and sellers. It is an essential tool for M&A deals as well as private equity companies and life science businesses which need to share sensitive information with partners or customers.

The top VDRs have a variety of features that simplify the M&A process and improve the likelihood of closing an agreement. They can, for instance allow users to browse documents simultaneously, instead of having to take turns looking at piles of papers and they can be accessed via laptops, desktops or mobile devices. This can cut down on the time required to complete due diligence and can save time and money.

When you’re looking for a VDR provider, take into consideration the way your team operates and where it could benefit from additional support. For instance, if searching for a VDR that supports e-Signature Choose one that has an in-built solution. Sending draft contracts via email or using a 3rd-party eSignature provider increases the risk associated with the process.

Choose a VDR with user-friendly tools for managing document access including search and logging. Make sure that the software is able to handle a lot of files, offers rapid browsing speeds and allows you to access documents across multiple devices. Also, select a vendor with a solid uptime record and excellent customer service. They should have a team that speaks your language and can quickly respond to any problems or questions.