Virtual data rooms provide secure efficient, easy, and organized ways to share and save sensitive documentation for business transactions. They are usually used by companies that want to process an M&A deal or by life science organizations with intellectual property that requires careful storage and protection.
You can check and access documents using a VDR from any location connected to the internet. This eliminates the need for physical travel and accelerates due diligence for buyers around the globe, increasing the chances of an efficient transaction. Secure remote access also enables you to protect your files with advanced encryption and tight access controls. Detailed activity tracking and audit trails are crucial features that allow you to monitor who views, prints or downloads the files.
VDRs provide a variety of other time-saving features including unlimited scrolling and a customizable search bar that speeds up document scanning. They are great for collaborative projects because they permit several users to log in simultaneously. You can also decide the permissions that each user has when accessing documents.
Downloading a mobile app allows you to utilize your VDR while on the go. This is ideal for remote work. Modern vendors offer professional customer support via chats within the app, multilingual support teams via email and telephone, help centers and videos of their products. It is essential that your VDR provides 24/7 support as M&A transactions, as well as other crucial processes, aren’t governed by a 9-5 work schedule.