Virtual data rooms provide a simple and organized method to share and archive sensitive documents required for business transactions. Typically virtual data rooms are used by companies that want to complete an M&A deal, or by life science companies with intellectual property that needs to be secured and stored with care.
With VDRs you can access and read documents from anywhere with a secure internet connection. This removes the need for physical travel and accelerates due diligence for buyers all over the globe, increasing your chances of an efficient transaction. Secure remote access lets you keep your files secure, using advanced encryption and strict controls on access. Audit trails and precise activity tracking are vital features that allow you to monitor who prints, downloads, or views which files.
VDRs also have additional features to help save time including unlimited scrolling and a customizable search box to speed up document scanning. They are perfect for collaborative projects, as they allow several users to log in simultaneously. You can also set the permissions that each user has with document level access.
You can access your VDR on the go with an app on your mobile device that is perfect for remote work. Modern vendors offer professional customer service through in-app chats multilingual support teams through email and telephone, help centers and product videos. It’s essential that your VDR offers 24/7 support since M&A transactions, and other critical processes, do not follow a 9-5 routine.