They are certified vendors that offer secure cloud services which includes document storage. They have the digital standards needed to keep business documents online. They offer advanced security, with granular control of permissions, and facilitate collaboration between team members as well as external parties. They are essential for due diligence, mergers, acquisitions, fundraising, and other purposes.
A good VDR provider will have a clear and intuitive user interface and mobile application that makes it easy for users to navigate the platform upload files, and locate information quickly. They should also have several support tools, such as training materials, FAQs, and a customer service team that can help with any problems or questions. Based on their plans they may offer live chat or email support. They may also be available during normal business hours or 24/7.
Certain VDR providers are focused on specific industry requirements. For example, Intralinks offers unique features specifically designed for companies in the pharmaceutical and biotech industries. CapLinked is another example, specializing exclusively in M&A transactions that involve mid-sized to large-sized businesses. Other VDR providers, such as DataSiteOne and Firmex have years of experience in facilitating M&A deals for Fortune 500 companies. Others, like Ansarada are adept at aiding businesses in international transactions.