When conducting due diligence, businesses review a wide array of documents. Financial statements, captables, lists of intellectual property and shareholders as well as employee records are but some. If any of this data gets into the wrong hands, it could hurt the business’s reputation or cause unwanted media attention. It’s good to know that the due diligence virtual data rooms in the telecommunications industry facilitate teams of all sizes to share these confidential documents.
The most reliable due diligence VDR software offers a simple user interface that is ideal for all dealroom personnel, regardless of of computer knowledge or training. The VDR’s communication tools should allow for easy audio and video calls to ensure that the deal is moving at a rapid speed.
Since the data is confidential and private, it must be secured with an additional layer of security. It is vital to choose the VDR that has built-in document security and control of versioning settings. This will stop documents from being printed or downloaded without permission.
The most reliable virtual data rooms that are designed for due diligence also provide advanced activity tracking, which reduces the possibility that sensitive data could be released. Administrators can view which files users have accessed and the date and time they access them. It also allows users to prevent them from changing or deleting documents after they’ve accessed them. All of these options are vital for any dealroom, but especially M&A due-diligence.