Virtual data rooms are designed to improve collaboration by providing a central location that partners, teams as well as clients can access and work on documents in real-time. They have auditing and activity tracking capabilities built in, that provide complete records of who accessed which documents when. This helps in identifying suspicious activities and ensure the compliance with data protection laws.
M&A – M&A transactions require a huge amount of paperwork that must be shared and reviewed by the sell-side as well as the buy-side. VDRs are a great tool to manage this process effectively, safely and efficiently.
Banking Investment bankers require secure access to privileged documents from their clients and third parties for M&A capital raising, M&A and other projects. VDRs can be a cost-effective substitute for meetings in person and eliminate the necessity of document storage, courier services, office supplies and office supplies.
Construction & Service Contracts
Contractors must share a large number of confidential documents with each to complete projects and to keep their business relationships. This requires a sturdy and reliable tool that permits contractors to access their documents wherever they have an internet connection. VDRs are highly secure alternatives to physical and email files that can be easily viewed on any device and from any the location.
Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform to collaborate on confidential documents with partners, investors and other stakeholders. These firms can use VDRs to track the progress of their research, study investor interest and track the ways in which documents are used by their users.