When it comes to due diligence, there are many factors that are involved. The ability to access documents at an centralized location is vital and allows those interested to look over the documents whenever they want. A virtual dataroom is a great solution for this. It also helps reduce the cost of printing, storage and courier services if documents are to be sent in physical form.
If you are choosing a provider make sure they offer a free trial to ensure you can test the software before signing an agreement. This gives you a chance to check how it is simple to use and set up your project. You should also check that they offer 24/7 support via phone and email. A good company will offer support in several languages to make the process easy for international users.
Another factor to consider is how it is simple to upload and download files. Most services allow drag-and-drop multiple files to upload at once. This lets you upload multiple documents at once which saves time and eliminates the requirement to manually add each document. They also offer granular settings for permissions, as well as the option to revoke access to a file even if the document has already been downloaded.
In addition, you should search for a vendor that offers an interactive Q&A feature that enables users to ask questions and get answers from other users in real-time. This helps to accelerate the process of due diligence, and it can also aid in closing deals quicker by solving any issues your clients may have.
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