For companies seeking to make important decisions like M&A transactions or capital raising, it’s vital that all relevant information is readily available. This can mean searching through hundreds of thousands of highly confidential documents that are potentially susceptible to hacker attacks, data breaches and other security threats. There’s a solution that allows easy access, secure document storage and collaboration tools. It’s referred to as a virtual data room (VDR).
A VDR is business software that allows for the simple and secure sharing of information during due diligence processes. It is specifically designed for the M&A and private equity markets but is also used by anyone looking to conduct major deals or projects. It’s a secure cloud-based repository that is able to store critical documents, including financial statements and legal agreements.
The most effective VDRs have clear structure of Visit Website folders that allow you to navigate and find what you’re looking to. They are equipped with security features that can be customized that allow you to limit access to documents by setting timeouts and auto-expiration. You can also limit printing, viewing and downloading documents and create reports on the activity of your documents.
VDRs are typically housed in data centers that have industry-standard security features, like fire suppression, biometric access control, and offsite backups of data. They also have global access allowing buyers and investors to review important documentation without visiting the company’s headquarters.