Virtual data rooms (VDRs) are business applications that permit the secure and convenient sharing sensitive corporate documents. They are commonly employed in M&As, strategic reviews, and capital raises. They can be used by any company of any size and industry. They are typically accessible via web browsers or through dedicated mobile apps. They provide professional support through multiple channels including live chat, phone and email. Their customer service representatives typically speak multiple languages and can handle even the most complicated requests.
VDRs are commonly used for due diligence in M&A transactions, where prospective buyers require a platform to review documentation. However, VDRs can be useful for any company that requires the review of sensitive documents from external sources.
Certain VDRs feature advanced encryption in the process https://scoreboardroom.com/insights-for-strategy-optimization-through-virtual-data-rooms/ and in the rest of the device and at rest, as well as granular document authorizations and discrete access and revocation procedures. This helps protect the most critical information in your company and prevents data theft by unauthorized third parties. They allow you to customize the folders and documents with options like watermarking, blind view, disabled print and more.
Other features include the capability to collaborate and communicate more effectively through Q&As, chat tools built into, and granular permissions on individual documents. VDRs are more transparent than other systems for document management and assist you in making better decisions by analyzing reports, analytics and versioning. They can help automate tasks that are otherwise difficult or time-consuming. This helps reduce the chance of mistakes, especially during high-risk processes or those that require a lot of documents.