They are certified vendors who provide secure cloud-based software including document repositories. They have the digital standards needed to keep documents for business use online. They offer advanced security, such as an extensive control of permissions and facilitate collaboration between team members as well as external parties. They are crucial for due diligence as well as mergers, acquisitions, fundraising, and for many other purposes.
A good VDR provider will have a clear, intuitive user interface and a mobile app that makes it easy for users to navigate the platform and upload files. It will also make it easy to locate information quickly. They also offer a variety of help resources like FAQs as well as training materials and a team of customer service representatives that can assist with any queries or issues. Depending on their plan, they might offer live chat, email, or phone support. They could also be available during normal business hours, or 24 hours a day.
Some vdr firms have a concentration on specific needs for industries. Intralinks is one example. It provides unique features to companies in the biotech and pharmaceutical industries. Another example is CapLinked which specializes in M&A transactions for mid- to large-sized businesses. Other VDR providers, such as DataSiteOne and Firmex have extensive experience facilitating M&A deals for Fortune 500 companies. Others, such as Ansarada are experts in international transactions.