Virtual Data Room Software
As opposed to physical rooms or traditional document management tools, VDRs offer more secure storage for documents that doesn’t require expensive infrastructure. They can be scaled to accommodate unlimited users, anytime access from anywhere using desktop and mobile devices, as well as tough security features like watermarking, user permissions, and remote access retrieval. They also enable efficient collaboration that speeds up deal-making and lowers costs.
Mergers and Acquisitions often require the review of large volumes of documentation within a short period of time. This requires due diligence from several parties. Without the right tools, this can be a difficult task. A VDR assists companies in sharing confidential documents in a controlled environment, which reduces the risk and allows all parties to look over the information they need.
Investment banks utilize VDRs to raise capital, conduct IPOs and do M&A. They need to be able to access and transfer sensitive files quickly in a secure, safe environment to ensure due diligence and present to potential investors. They also require an easy-to-use, multi-language interface that supports their internal and external stakeholders, as well as flexible pricing models, including per-storage and per-page.
Legal firms and law agencies are another category that rely on the use of a VDR to send documents to clients in a safe and efficient way. They generally require a secure VDR that gives them an extensive control over access to sensitive data as well as a search function that is easy to use and a simplified process for document approval. Moreover, they want to cut down on time by utilizing electronic signatures that can eliminate the need for face-toface meetings and speed up real estate transactions.
