Virtual data rooms, or VDRs, are business applications that allow for the safe and secure sharing of corporate documentation. They are typically used during M&A capital raises, strategic reviews and tenders. Companies of all sizes and industries can use them. They are accessible via web browsers or mobile apps. They offer expert support via different channels such as in-app live chat, phone, and email. Their customer service teams are usually multi-lingual and are able to handle even complex requests.
The most frequent use case for VDRs is M&A due diligence, where potential buyers require a platform to review company documentation. However, VDRs can be useful for companies in any situation that requires the review of sensitive documents from external parties.
Certain VDRs feature advanced encryption in transit and at rest with granular document permissions as well as discrete access https://scoreboardroom.com/insights-for-strategy-optimization-through-virtual-data-rooms/ and revocation procedures. This ensures the security of the most vital information in your company and prevents data theft by unauthorised third parties. They allow you to customize documents and folders, using options like watermarking, blind view, disabled print and much more.
Other features include the capability to collaborate and communicate more effectively with Q&As, chat tools built into, and granular permissions on specific documents. VDRs provide greater transparency than other document management systems and help you make better decisions using analysis, reports and versioning. They also offer automation of tasks that are normally time-consuming and tedious. This reduces the chances of making mistakes manually especially in high-risk transactions or lengthy processes.
