What Are Virtual Data Rooms?

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What Are Virtual Data Rooms?

Virtual data rooms are designed to streamline collaboration by providing a central place that teams, partners as well as clients can access and work on documents in real-time. They also have built-in auditing and activity tracking capabilities that give a complete list of who has accessed what and when. This is a great way to spot suspicious activities and ensure that the system is in compliance.

M&A – M&A transactions require a substantial amount of paperwork that must be reviewed and shared by the sell-side as well as the buy-side. VDRs are the ideal instrument to ensure this process is managed efficiently, safely and effectively.

Banking — Investment bankers require secure access to privileged documents from their clients and third parties for M&A capital raising, as well as other projects. VDRs offer a cost-effective solution that eliminates the requirement for in-person meetings, document storage space as well as courier services and office supplies.

Construction & Service Contracts

Contractors are required to share a variety of confidential documents in order to complete projects and maintain business relationships. This requires a strong and reliable tool that allows contractors to access documents any time they have internet access. VDRs offer a safe alternative to physical and email files which can be viewed on any device and at any place.

Biotech/Pharma Pharma and Biotech R&D in life science companies needs high-level security, as well as an avenue for collaboration on confidential documents with partners, investors and other stakeholders. These companies can use VDRs to monitor progress, evaluate investor interest and track the how documents are used by their customers.