Virtual Data Room is a secure cloud storage service that lets businesses share their documents with third party securely. It is used by numerous industries, including life science and technology, banking, M&A and more.
For M&A, the most common use for VDRs, a virtual data room helps facilitate due diligence and close is a less risky process. This is important, since M&A can involve large amounts of documents, and be extremely sensitive.
A VDR can reduce M&A risk by providing users with specific permissions, secure spreadsheet viewers and other features such as view-only mode, screen-blocking and more. So, only the appropriate individuals can access and view the data. The security of your infrastructure is also guaranteed by multiple backups and virus scanning.
Financial services companies handle many kinds of data that ranges from contracts and other legal documents to financial data and reports. This makes them a great candidate for the use of a VDR because they can store their documents in a safe manner and share them with other parties quickly and easily.
Investment banks use online document sharing software for M&A transactions and capital raising. They require a VDR with an affordable pricing plan that is flexible and collaboration capabilities to maximize efficiency. For example an investment bank would require a solution that has an upload speed of 5MB per second, SmartLock that allows revoking access to documents after downloading, built-in redaction features, DocuSign integration, and much more.
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