A Virtual Data Room (VDR) is a business software solution designed to securely store and share sensitive documents during the M&A process. They offer secure cloud storage, advanced features for document management and granular control over access.
They are extremely popular in due diligence projects in which the buy-side and sell-side must review private documentation. They can also be useful in managing meetings and collaboration in reducing travel costs and speeding decision-making.
Life science companies make use of VDRs to protect their intellectual property as well as facilitate internal processes like partnership, fundraising, and M&A. They also need to communicate with investors and other stakeholders. VDRs help them do this with simple and user-friendly interface.
Financial institutions have a lot of paperwork to manage and they often require access to it from a remote location. They must be aware of what documents were reviewed when, so they can react appropriately if something goes wrong. Virtual data rooms provide advanced tracking and analytics capabilities to meet these needs.
They offer multiple security features to protect sensitive files and safeguard against data breaches such as multi-factor authentication, session timeouts and location restrictions. They also have high-uptime and disaster recovery features to ensure 99.9 100% availability and stop data loss or theft. They also hold a number of security certifications, such as ISO 27001 and GDPR. They also have a dedicated team of support staff to answer any questions that users might have.