What Are Virtual Data Rooms?

Virtual data rooms are designed to facilitate collaboration by providing a central place that partners, teams and customers can view and work on documents in real-time. They also have built-in auditing and activity tracking capabilities that provide a full history of who used what, and when. This information can be used to identify suspicious activities and ensure the compliance.

M&A – M&A transactions require a huge amount of documentation that has to be reviewed and shared by the sell-side as well as the buy-side. VDRs are the perfect tool for managing this process in a secure, efficient and efficiently.

Banking — Investment banks need secure access to confidential documents from clients and third parties to help complete M&As, raise capital and other projects. VDRs are a cost-effective solution that eliminates the requirement for in-person meetings documents, document storage space as well as courier services and office equipment.

Construction & Service Contracts

Contractors must share a lot of confidential documents in order to complete projects and maintain business relationships. This requires a robust and reliable tool that enables contractors to access their documents wherever they have internet access. VDRs offer a safe alternative to physical files and emails that are easily accessible from any device or place.

Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform to collaborate on confidential documents with partners, investors and other stakeholders. These companies can use VDRs to monitor the progress of their research, study investor interest and track the way documents are used by their users.

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