A virtual dataroom, also known as VDR is a safe cloud-based storage solution that allows companies to share sensitive files securely with other parties. They offer a range of advantages for various industries. These include the ability to collaborate effectively, access documents at anytime and safely store multiple copies of the same document.
Virtual data rooms can be utilized in nearly any field which requires sharing confidential documents with outside parties. The most frequent use cases are M&A due diligence, fundraising and first public offerings. However, the legal sector and healthcare industry benefit the most from a virtual data space because they are often dealing with highly confidential information and sensitive business documents.
M&A due diligence requires extensive documentation review for potential buyers, and a VDR can simplify this process with features like automatic indexing, full-text searches and access control based on role. The VDR helps M&A professionals comply with regulations thanks to robust security measures such as data encryption, virus scanning, and protocols reporting tools.
Fundraising and IPOs require the highest levels of collaboration between shareholders, and a VDR can facilitate this process by providing efficient communication tools such as comments sections and Q&A. Top-rated VDRs can also help you track user activity with comprehensive reports and logging features. Pricing is similar to cell phone plans and internet and internet plans, with a starting price and optional add-ons that are based on the features or the duration.
