For businesses looking to make significant decisions like M&A transactions, tenders or capital raising, it is essential that all the relevant information is available. This may mean searching through thousands or tens of thousands sensitive documents that could be susceptible to hacker attacks, data breaches and other security threats. There is an option that combines access to documents with security document storage and collaboration tools. It’s known as the virtual data room (VDR).

A VDR is a piece of software used in business that allows for the simple, transparent and safe sharing of information in due diligence processes. It is specifically designed for the M&A private equity, M&A, and investment advisory fields, but can be utilized by any business looking to execute an important deal or undertake a project. It’s usually a secure cloud-based repository that holds important documents including financial statements, legal agreements and IP protection documents.

The most effective VDRs have clear folder structures that make it easy to navigate and find what you’re looking to. They also come with security options that can be customized to allow users to restrict access by establishing timeouts and auto-expiration. This can be done by putting limitations on viewing, printing and downloading files, and creating reports about the activities of documents.

VDRs are typically hosted in data centers that are equipped with industry-standard security features, including fire suppression, biometric access control and offsite data backups. They also have global accessibility making it easier for potential buyers and investors to access important documents without needing to go to the headquarters of your company or other locations.

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