Virtual data rooms (VDRs) are software for business that allows the secure and easy sharing of sensitive corporate documents. They are commonly used in M&As, strategic reviews and capital raises. They can be used by companies regardless of size or industry. They can be accessed via mobile or web browsers. They provide professional customer support through various channels, including in-app chat or phone, as well as email. Their customer service team is typically multi-lingual and can handle even the most complex requests.
VDRs are typically utilized for due diligence in M&A transactions, where potential buyers require a platform to review the documentation. However, VDRs can be useful for companies in any situation that requires the review of confidential documents from external parties.
Some VDRs provide advanced encryption, both during transit and when the document is in rest. They also offer the ability to grant documents granular access rights and also have discrete access and revocation methods. This safeguards your most valuable information and prevents data theft from unauthorized parties. You can customize folders and documents, with features like watermarking disabled print, blind view and much more.
Other features that are important include an easier way to communicate and collaborate via Q&A as well as an integrated chat tool and granular access rights for individual documents. VDRs provide more transparency than other systems of document management and aid you in making better choices in terms of reports, analytics, and versioning. They can help automate processes that would otherwise be difficult or time-consuming. This can help reduce errors, especially in high-risk processes or ones that require a lot of documents.
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