A virtual data room can be a valuable tool in different business projects that require professional management of documents and sharing. It provides a secure environment for sharing and uploading sensitive files with a variety of stakeholders throughout the various phases of a project.
When selecting a VDR be sure the software is compatible with the major operating systems and devices, without any additional plugins or programs. Find providers that provide multilingual in-app and phone support with dedicated teams manager and help centers and product videos and other features that can improve communication and collaboration.
M&A
M&A transactions are the most popular use of VDRs. Dealmakers must analyze, review and exchange documentation with prospective investors during due diligence. When compared to email and simple cloud storage tools, VDRs provide more collaborative services that help speed up the process of transactions and improve efficiency. They include precise monitoring of projects, with specific permissions, customized dashboards, reporting, ad free viewing and screen restrictions, as well as built-in redaction.
Life sciences
Pharmaceutical, biotech and medical device companies deal with sensitive intellectual property and require a secure platform to store the information and share it with multiple stakeholders. They must also comply with standards for compliance like ISO 27001 and GCP. A compliant-centered VDR with automated data classification, granular permissions, and audit logs can assist in meeting the requirements for compliance while improving communication with potential partners and investors.
Documents such a financial statement and blueprints are required to be shared in the real estate business. Cloud storage or email are not secure enough for confidential documents. A VDR that prioritizes security will prevent leaks of confidential information with features like watermarking and view only mode as well as screenshot blocking secure downloads, as well as secure downloading.