Digital Data Rooms
The virtual data room (VDR) is an extremely secure platform for document sharing in a variety of business scenarios. For example, whether it’s due diligence in M&A or even an IPO or restructuring the VDR is a feasible solution for any document sharing project. The top VDR service providers provide expert customer service through a variety of ways, including live chat within the app and phone. Many of these solutions also offer multiple languages as well as training videos.
The most frequent use for the digital data room is during due diligence in M&A transactions. In this case the sell-side must share all relevant documentation with potential investors in a secure environment however, they must also to ensure that any sensitive information stays secret. The VDR ensures that only those individuals have access to the documents they need to do their jobs. This is accomplished through the assignment of granular access rights to individual folders and files.
Furthermore, the logical layout of the file system as well as the intuitive navigation makes it easy for users to find the information they require. Some VDRs offer the possibility to modify the theme of the data room and to add logos for companies on the dashboards.
Digital data rooms are accessible via any device with internet access and a current web browser. This makes communication easier between boards of directors, leading to faster decision-making and more efficient workflow. Digital data rooms also offer an audit trail of all activity. This includes everything from the time that a file was viewed to the IP address from where it was accessed.
