Virtual data rooms are designed to improve collaboration by providing a central location that partners, teams and customers can view and work on documents in real-time. They feature auditing and activity tracking features built-in, and provide a complete history of who accessed what when. This helps in identifying suspicious activities and help ensure compliance with the data protection regulations.
M&A -Deals involving M&A – M&A deals require a huge amount of documentation to be shared and reviewed between the buy-side and the sell-side. VDRs are an ideal instrument to manage this process efficiently, effectively and safely.
Banking — Investment banks need secure access to confidential documents from clients and other third parties in order to complete M&As as well as raise capital for other projects. VDRs offer a cost-effective alternative to in-person meetings, and eliminate the necessity for document storage, courier services, office supplies and office supplies.
Construction & Service Contracts
Contractors must share a lot of confidential documents to complete projects and maintain business relationships. This requires a secure, reliable and secure tool that lets them access documents from anywhere with an internet connection. VDRs are a safe alternative to physical files and emailing. They can be accessible on any device or at any location.
Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform for collaboration on confidential documents with investors, partners and other stakeholders. They can use VDRs to track progress, analyze the interest of investors and monitor the how documents are used by their users.