A secure data room is a way to share information, manage and store confidential documents online with selected third parties. VDRs are utilized by a wide range of industries, and the most common use is during M&A and fundraising, project management asset sales, and many more.
The best VDRs have various features that meet the needs of different types of users. They include customizable folder structures Content templates, Q&A workflows, and robust audit logs. They are also easy to set up, offer the best support in the industry and have an extremely short time to set up.
For instance, SecureDocs virtual data room enables companies to set up and launch their deal rooms in a matter of minutes with immediate account activation, there is no need to wait for an expert salesperson or technical instruction – and drag-and-drop uploads to get started. It is trusted by companies across the globe to complete billions of dollars in successful transactions.
Attorneys depend on VDRs for due diligence and to share documents with their clients and local mortgage brokers and banks to manage the collection and sharing of the loan application and processing documents with partners from outside. Manufacturers likewise rely on VDRs for their secure collaboration and distribution of materials in large-scale contracts and projects as do venture capitalists private equity firms and hedge funds to simplify the process and ensure privacy. These solutions are more reliable than generic software for sharing sensitive documentation in M&A such as IPOs, M&A, and restructuring agreements.