Virtual Data Rooms (VDRs) are online software tools for managing and storing files that allow business users to securely share confidential documents. These unique business software solutions facilitate sharing documents, allow for efficient collaboration, and streamline the business process. They are especially useful during M&A processes, when large volumes of privileged documents have to be shared with third party for compliance and privacy reasons.
In the event of a merger or acquisition both sides must efficiently collaborate on due diligence documents in order to swiftly and efficiently close the deal. In a VDR the business user can upload and download documents, set up security for different parties and easily track access. They can mark documents or folders as favorites, speeding the review process by making it easier to go back to content easily.
Legal firms and law enforcement agencies usually employ VDRs to collaborate with internal teams, clients and third parties on cases that require secure document sharing. They require software that can provide powerful Q&A features with powerful search capabilities, as well as compliance reporting.
Pharmaceutical and biotech companies need to share their intellectual property with potential investors, partners and researchers. They need to ensure the information is secured and accessible for business purposes using features such as multiple granular user permissions, watermarking, snapshot blocking view-only mode, esignature integration and more.
VDRs are used by private equity funds to streamline their M&A projects as well as investment advisory services. They do this by facilitating the sharing of documents as well as enhancing collaboration. They require software that enables them to upload and downlaod sensitive data with ease, and provides sophisticated search capabilities, eases and accelerates the due diligence process, and offers investors a convenient way to access the requested documents.
