What Are Virtual Data Rooms?
Virtual data rooms are designed to streamline collaboration by providing a central platform which partners, teams and customers can view and work on documents in real-time. They feature auditing and activity tracking features integrated, which offer an exhaustive record of who accessed what and when. This will help in identifying suspicious activities and ensuring that you are in compliance with data security regulations.
M&A -Deals involving M&A – M&A deals require a large amount of documentation to be shared and viewed by the buy-side and the sell-side. VDRs are the best tool for managing this process safely, efficiently and efficiently.
Banking — Investment bankers require secure access to privileged documents from their clients and third parties for M&A capital raising, M&A and other projects. VDRs are a cost-effective solution that eliminates the requirement for in-person meetings, document storage space as well as courier services and office supplies.
Construction & Service Contracts
Contractors need to communicate a huge amount of confidential documents with one other for the completion of projects and to keep their business relationships. This requires a robust, reliable and secure tool that allows them to access documents from anywhere using an internet connection. VDRs are a secure alternative to physical files and emails that can be easily viewed on any device and from any location.
Biotech/Pharma – R&D in life science firms requires high-level security as well as an opportunity to collaborate on confidential documents with partners, investors and other stakeholders. VDRs allow these companies to keep track of their progress in analyzing investor interest and monitor how documents are used by their users.