Setting up the virtual data rooms is an essential element of the M&A process as it allows companies to easily share documents and speed up due diligence. In addition, it cuts down on time and resources that would have been spent on printing and scanning files via email. With these benefits of cost-efficiency, M&A transactions can be conducted much faster and expected synergies will be realized sooner.

It is crucial to decide which roles of users should have access to the VDR and what types of files that they should be able to access. Acquirers, for example require access to business plans and financial statements in order to evaluate the potential company. Investors should be able to view certain documents. Due to this, acquirers must have access to all of the information. To further safeguard sensitive files the virtual data rooms should provide a watermarking and auditability feature to prevent leaks of data.

When arranging the virtual data room, it is essential to use templates for folders and to have a clean and easy-to-use directory structure. For example, using an due diligence checklist and including subfolders and topics can help users find the files they require with less effort. Indexing is yet another useful VDR feature. It tags documents with keywords and metadata that can be used to aid in easy location. Finally, VDRs that support version control make sure that users have the most recent version of a file.

Additionally, a virtual data room should include a comprehensive Q&A feature that is used to efficiently organize questions and their answers for all parties. Administrators can quickly respond to new inquiries and avoid having to send the same information over again.

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