Many people are familiar with file sharing services such as Dropbox or Google Drive. They are not as convenient or secure as a VDR that is designed for commercial use. With a business VDR users can securely collaborate on files in real-time and revoke access to them immediately if there’s any security breach. A VDR can also allow administrators to obtain detailed reports on document activity, such as the length of time each document was viewed and by who.
Virtual data rooms are used by many companies to facilitate complex financial transactions, and other crucial business processes. Investment bankers, VCs and private equity firms frequently analyze several deals simultaneously, and that generates reams of data that require organization and secure distribution.
By using an intelligent virtual information room, it’s simple to recognize significant trends in the data and speed up due diligence for M&A. Additionally when a company is considering an IPO or capital raising and the VDR can assist in keeping the process running smoothly.
Mining and energy companies also have large volumes of data shared with regulators and investors. If you use a VDR for business, it’s simple to control access and ensure compliance. A VDR provides greater online security than an ordinary cloud service, and comes with features like fence view, built in redaction, granular access and remote shred. In addition, a reputable commercial VDR provider will offer instant assistance (and 24/7 support) whenever there is an issue.
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