Virtual data rooms are designed to facilitate collaboration by providing a central place that teams, partners and customers can view and work on documents in real-time. They also have built-in auditing and activity tracking capabilities that provide a full history of who visited what and when. This helps in identifying suspicious activities and help ensure compliance with the data protection regulations.
M&A – M&A transactions require a huge amount of documentation which must be shared and reviewed by the sell-side as well as buy-side. VDRs are the ideal tool to manage this process safely, efficiently and effectively.
Banking Investment banks require secure access to confidential documents from clients and other third parties in order to complete M&As, raise capital and other projects. VDRs offer a cost-effective alternative to in-person meetings and eliminate the need for document storage as well as courier services, office equipment, and office supplies.
Construction & Service Contracts
Contractors must communicate a huge amount of confidential documents with each others to finish projects and to keep their business relationships. This requires a secure, reliable and secure tool that allows them to access documents from anywhere with an internet connection. VDRs are a highly-secure alternative to email and physical files which can be viewed from any device and geographical location.
Biotech/Pharma Pharma and Biotech R&D in life science firms requires high-level security, as well as an avenue for collaboration on confidential documents with partners, investors and other stakeholders. The companies can utilize VDRs to monitor the progress of their research, study investor interest and track the how documents are used by their users.