When choosing a data room, look for features which will help your team organize files quickly and efficiently and ensure that they are securely stored. A reliable virtual data room must accommodate a wide range of different types of files, allow in-platform viewings, be easy to learn with a short adoption curve and come equipped with 24/7 customer service. Furthermore, a central repository that eliminates the requirement for physical storage of documents and printing as well as courier services can significantly cut down on the costs of your business.

The best VDR providers offer security features such as document watermarks and secure downloads and uploads, granular permissions and multi-factor authentication. They also have time and IP restrictions as well as access restrictions. Some of these tools also provide a comprehensive audit trail that will give you a complete picture of the activities in your data room.

Another helpful tool to look for in a virtual data room is an FAQ function that allows you to erase or conceal sensitive questions and answers. This will ensure that advisors, investors, and potential buyers only see relevant information during the process.

Consider a platform with multiple languages to facilitate collaboration. This will enable your team to communicate more effectively with each other and ensure that they can collaborate on a deal from any location that has an internet connection. In addition, a virtual data room that provides multiple file formats and can be used with iOS, Android and Blackberry can make it easier for your team to work together regardless of the device they're using.