Virtual Data Room is a secure cloud storage service which allows businesses to share their documents with third party securely. It is used by a variety of industries such as life science technology, banking, M&A, and more.
Virtual data rooms are often used for M&A transactions which is the most typical application of VDRs. They assist in due diligence, and closing deals with less risk. This is especially crucial because M&A involves large volumes of documentation and can be highly sensitive.
A VDR can help reduce M&A risk by providing the users with more specific permissions as well as secure spreadsheet viewers. other features such as view-only mode, screen-blocking and more. This means that only the right Virtual Data Room individuals are able to access and view the data. Infrastructure security is also ensured by multiple backups as well as virus scanning, data center redundancy, and more.
Financial services companies handle an abundance of information including contracts and other legal documents to financial data and reports. This makes them a great candidate for VDRs. VDR, as they can store documents securely and share them with other parties quickly.
To ensure that their client data safe and compliant investment banks rely on online document sharing software to help with M&A transactions as well as capital raising and other projects. They require a VDR with a flexible pricing plan and collaboration features that maximize efficiency. For example an investment bank may need a solution with the ability to upload 5MB per second, SmartLock that allows revoking access to documents even after downloading, built-in redaction, DocuSign integration, and more.