Virtual data rooms are designed to improve collaboration by providing a central place which partners, teams and clients can look over and work on documents in real-time. They are equipped with the ability to audit and track activity built-in, and provide full records of who has accessed what at what time. This can assist in identifying suspicious activities and ensuring that you are in compliance with data security regulations.
M&A – M&A transactions require a huge amount of documentation that has to be reviewed and shared by the sell-side and the buy-side. VDRs are an excellent tool to manage this process efficiently in a safe and efficient manner.
Banking — Investment bankers require secure access to documents from their clients as well as third parties for M&A capital raising as well as other projects. VDRs offer a cost-effective solution that eliminates the need for meetings in person as well as document storage as well as courier services and office equipment.
Construction & Service Contracts
Contractors must share a lot of confidential documents to complete projects and maintain business relationships. This requires a strong and reliable tool that lets them access documents from any location with an internet connection. VDRs are highly secure alternatives to physical files and email that can be easily viewed on any device and at any place.
Biotech/Pharma – R&D in life science firms requires high-level security as well as an environment for collaboration on confidential documents with partners, investors and other stakeholders. These firms can use VDRs to track the progress of their research, study the interest of investors and monitor the ways in which documents are used by their users.