What Are Virtual Data Rooms?

02 Jun What Are Virtual Data Rooms?

Virtual data rooms are designed to improve collaboration by providing a central place that partners, teams and customers can view and work on documents in real-time. They come with auditing and activity tracking features built in, that provide complete records of who accessed which documents when. This will help in identifying suspicious activities and help ensure that you are in compliance with data security regulations.

M&A – M&A transactions require a significant amount of documentation which must be reviewed and shared by the sell-side as well as buy-side. VDRs are the ideal instrument to help manage this process efficiently in a safe and efficient manner.

Banking Investment banks require secure access to confidential documents from clients as well as third parties to complete M&As, raise capital and other projects. VDRs are an efficient solution that eliminates the need for in-person meetings, document storage space as well as courier services and office equipment.

Construction & Service Contracts

Contractors must communicate a huge amount of confidential documents with each other for the completion of projects and to keep their business partnerships. This requires a sturdy and reliable tool that permits contractors to access documents anywhere they have an internet connection. VDRs offer a safe alternative to physical files and email that can be easily viewed from any device and location.

Biotech/Pharma Pharma and Biotech R&D in life science companies requires top-of-the-line security, as well as an avenue for collaboration on confidential documents with investors, partners and other stakeholders. VDRs allow these companies to keep track of their progress, analyse investor interest and monitor how documents are used by their users.

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