There are a myriad of situations where companies can make use of a virtual data room to facilitate secure document sharing without the requirement of a costly physical facility. VDRs are commonly used during due diligence for mergers and acquisitions. However, they can be used to share documents with clients, business partners and other stakeholders.
A virtual data room is an ideal solution for M&A transactions because it permits sellers and prospective buyers to review documents in one location, without exposing sensitive information. Investment bankers also utilize VDRs to share confidential documents with clients as well as other stakeholders during M&A or capital raising processes. Technology companies use VDRs to communicate information about manufacturing and design across teams throughout the world. And consultancy businesses use them to discover patterns in large data that could help inform corporate strategy.
A VDR can help cut M&A costs by reducing travel and printing costs, and by making documents more accessible than a physical repository. In addition, it is easy to customize the storage structure to fit every project, and to grant restricted access on a per-document basis.
Users can access VDRs via their web browsers, so they can view documents from anywhere with internet access. Administrators can obtain complete reports on user activity including who viewed which documents when, and from where. This provides information that isn’t available www.dataroom365.com/investigating-different-vdrs-choosing-the-right-option-for-your-business-requirements/ through physical storage. Access logs only provide information about who used what, and when.