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A lot of industries rely on virtual package rooms to facilitate M&A transactions, such as pharmaceutical and biotech companies. They will typically have to review a large number of docs within tight deadlines. Consequently, they require a high level of collaboration and secure sharing. To ensure this, these agencies use electronic data rooms that support a range of document formats and provide easy-to-use tools intended for sharing files.

The best VDRs should have a strong search function, multiple languages and compatibility with mobile devices. They should also be easy to set up and navigate. Seek for a vendor which offers additional software program as document conversion, eSigning, and contract management products. These might help improve your business method and save money in the long run.

As an example, PandaDoc enables you to upload more than 150 various kinds of documents, offers a drag-and-drop characteristic, and supports a wide range of systems. It also carries a live cellphone support landline, documentation, and webinars. The platform is available on iOS, Android, and Mac pc systems. The vendor’s reading user reviews highlight its simple, user-friendly interface, an instant setup, and transparent costing.