Virtual data rooms (VDRs) are business applications that permit the secure and easy sharing of sensitive corporate documents. They are commonly used in M&As and strategic reviews and capital raises. Businesses of all sizes and industries can use them. They are typically accessible via websites or dedicated mobile apps. They provide professional customer support through several channels, including in app chat as well as phone and email. Their customer service teams usually have a variety of languages and are able to handle the most complicated requests.
VDRs are commonly utilized for due diligence in M&A transactions, when potential buyers require a platform for reviewing the documents. VDRs are beneficial in any situation in which sensitive documentation needs to be reviewed by external parties.
Some VDRs offer advanced encryption, both virtual data room advantage during transport and when the document is in rest. They also have restricted access to documents as well as distinct access and revocation processes. This protects your most crucial information and prevents data theft from unauthorised third parties. You can customize folders and documents, with features like watermarking, blind view, printing disabled and much more.
Other key features include an easier way to communicate and collaborate through Q&A and a built-in chat tool and granular permissions for individual documents. VDRs provide more transparency than other document management systems and can help you make better choices with analytics, reports and versioning. They can automate processes that would otherwise be lengthy or time-consuming. This helps reduce manual errors especially in high-risk transactions or processes that require a lot of documents.