For companies that are seeking to make important decisions such as M&A transactions, tenders or capital raising, it’s vital that all relevant information is available. This can involve scouring through many thousands of highly confidential documents that could be susceptible to hacker attacks, data breaches and other security threats. There is a solution which combines easy access with secure document storage, and collaboration tools. It’s called a virtual data room (VDR).
A VDR is a business software tool that facilitates easy and secure, transparent information sharing in due diligence processes. It is specifically designed for the M&A, private equity and investment advisory industries, but is a tool that can be used by any company looking to complete an important deal or undertake a project. It’s a cloud-based secure repository that is able to store critical documents such as financial statements and legal agreements.
The best VDRs are those that have an organized folder structure that makes it easy to navigate. They have customizable security features which allow you to limit access by creating timeouts and auto-expiration. You can also limit printing, viewing, and downloading documents, and generate reports on the activity of your documents.
VDRs are usually hosted in data centers designed for industry standards that contain physical security measures, such as backups of data offsite, fire suppression and biometric access control. They also have global access which makes it easier for investors and potential buyers to review vital documentation without needing to travel to your company’s headquarters or other locations.
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