They are certified vendors who offer secure cloud software which includes document storage. These providers adhere to the digital standards that are required to store business documents online. They offer advanced security features, including access control for permissions that are granular, and allow collaboration between team members and external parties. They are essential for due diligence, mergers, acquisitions, fundraising, and other purposes.

A good VDR will have a simple user interface that is clear and an application for mobile that makes it simple for users to navigate through the interface, upload files, and locate information quickly. They should also have numerous support tools, such as training materials, FAQs, and an in-house customer service team that can assist in any issue or query. Depending on the plan they have, they might offer live chat, email, or phone support. They may also be available during normal business hours or 24 hours a day.

Some VDR companies have a specialization in specific industry needs. Intralinks is one example. It provides unique features to companies operating in the biotech or pharmaceutical industries. CapLinked is another example, which is specialized exclusively in M&A transactions involving mid-sized to large-sized firms. Other VDR providers such as DataSiteOne, Firmex and others have extensive experience in facilitation of M&A transactions for Fortune 500 companies. Still others, like Ansarada, are well-versed in assisting businesses with international transactions.