When deciding which virtual data space to use for your due diligence process, search for a service that offers broad features and platform-adjustability. iDeals Solutions supports businesses of all sizes and from different industries. It has an intuitive interface with a variety of viewing options. You can also test the software for free before signing up for a paid subscription. Furthermore, their flat-fee pricing model and customer support team make them ideal for M&A due diligence as well as other important business transactions.
A data room should also have a logically planned file structure. To keep your files from becoming messy, consider making a folder structure that corresponds to the timeline of the project and divides the files according to their level of confidentiality (e.g. legal, financial or HR). This will enable contributors to locate the necessary files quicker and ensure that all relevant documents are included in the due diligence process.
Additionally, you should make sure that the platform you choose to use is secure for both external and internal users. Make sure that the security features are 256-bit AES as well as data center uptime certification, ISO 27001, and digital rights control. Select a service that lets you control the limitations on document downloads and prints, while also enabling remote shredding.
It is essential to use the best due diligence tool available regardless of whether your startup is undergoing an M&A, a capital raising or IPO. Look for a secure and simple, plugin-free and 24/7 available VDR that can streamline the due diligence process and speed up deal execution.