Virtual Data Room is a secure cloud storage solution that allows businesses to share documents with other parties securely. It’s utilized by a variety of industries including life science technology, banking, M&A, and more.
For M&A the most frequent use-case for VDRs, a virtual information room helps facilitate due diligence and close has less risk. This is crucial, as M&A could involve large quantities of documents and be extremely sensitive.
A VDR can help reduce M&A risk by offering the users with more specific permissions, secure spreadsheet viewers and other features like view-only mode, screen-blocking and more. This means only the appropriate people can see and access the data. Security for the infrastructure is also ensured by multiple backups and virus scanning.
Financial services companies have a large amount of information to manage including business contracts and other legal documents to accounting reports and financial data. This makes them a great candidate for a VDR, as they can safely store documents and share them with third party quickly.
To ensure that their client’s information secure and compliant, investment banks rely on online document sharing software to help with M&A transactions or capital raising as well as other projects. To make the most efficient use of their resources companies require a VDR that comes with a broad variety of collaboration options and flexible pricing plans. Investment banks, for example, will need an option that provides a 5MB upload speed, SmartLock, which allows the revocation of access for documents after they’ve been downloaded as well as built-in redaction as well as DocuSign integration.