Virtual data rooms are designed to simplify collaboration through a central repository which partners, teams and clients can look over and work on documents in real-time. They have the ability to audit and track activity built in, that provide full records of who accessed which documents when. This information can be used to spot suspicious activities and ensure that the system is in compliance.
M&A — M&A deals require a large amount of documentation to be shared and reviewed between the sell-side and the buy-side. VDRs are a great tool to manage this process efficiently, securely and effectively.
Banking — Investment bankers require secure access to privileged documents from their clients as well as third parties for M&A capital raising, M&A and other projects. VDRs are a cost-effective solution that eliminates the requirement for in-person meetings, document storage space, courier services and office supplies.
Construction & Service Contracts
Contractors must share a lot of confidential documents to complete projects and maintain business relationships. This requires a sturdy safe, reliable and secure tool that allows them to access documents from any location with an internet connection. VDRs offer a secure alternative to physical files and emailing. They can be access via any device or from any location.
Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform to collaborate on confidential documents with investors, partners and other stakeholders. The companies can utilize VDRs to track progress, evaluate the interest of investors and monitor the ways in which documents are used by their users.