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Whether you are an investment banker that advises clients or a member of the M&A team, you’ll likely encounter VDR reviews throughout your research process. Some reviews are real and others are fake. They’re either made to promote a provider or to discredit them. Learning how to differentiate real from fake virtual data rooms reviews can save you a lot and expense.

The right VDR will help you achieve your M&A due diligence goals, as well as other important transactions without the requirement of a physical meeting. It also helps you avoid the cost and time of a meeting. The best virtual data rooms provide specialized user interface templates for different projects, and also have tools that can streamline collaboration and document exchange. They also provide a range of security features to prevent sensitive information from being shared, for instance a fence view feature that hides certain portions of a file to stop the process of screenshotting.

Certain vendors go above and beyond the basic cloud storage software, and offer features such as chat in-app, phone, email, chat, multilingual support, managers and teams videos for their products, and more. Most vendors don’t give a lot of importance to these features however they are vital for an effective deal.

The best VDRs also include a variety of AI functions that can create huge efficiency, improve accuracy, and make the user experience more enjoyable. For example, DFIN’s Venue incorporates all of your digital tools into one and lets you view an organized folder structure. It can automatically index and organize documents to facilitate search, and its executive suite allows you to view all current projects in a single glance. You can also manage access by using a single sign-on and take down credentials as soon as someone leaves the company.

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