A Virtual Data Room (VDR) is a software solution for businesses used to safely save and share sensitive data during the M&A process. They provide secure cloud storage advanced document management capabilities and granular access control.
Due diligence projects are very popular when the sell-side and buyer-side need private documents to be viewed. They can be used to manage meetings and collaboration, decrease travel expenses and speed up decision-making.
Life science companies make use of VDRs to protect their intellectual property and facilitate internal processes like fundraising, partnerships, and M&A. They also need to collaborate with stakeholders and investors. VDRs allow them to accomplish this through an easy user-friendly interface.
Financial institutions have lots of paperwork to manage and they often require access to it from a remote location. They also must be able to keep track of the types of documents they looked at and when, so that they are able to react appropriately when something goes wrong. Virtual data rooms offer advanced tracking and analytics capabilities to meet these requirements.
Multi-factor authentication session times out, and restrictions on location are just a few of the security features they provide to protect confidential data and avoid data breaches. They also have high-uptime as well as disaster recovery capabilities to ensure 99.9 percent availability and avoid loss or theft of data. They also hold a number of security certifications, such as ISO 27001 and GDPR. In addition they have a dedicated support staff to address any queries that users might have.
