What Are Virtual Data Rooms?

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A virtual dataroom (VDR) allows companies to safely store and share documents in the cloud. Most VDRs are equipped with powerful encryption technology and access control, creating digital fortresses to guard sensitive information from being accessed by unauthorized persons. VDRs are able to streamline processes, speed deals and improve communication.

VDRs are often utilized in mergers and acquisitions where parties exchange large volumes of documents during due diligence before making a big deal. VDRs can make the process of M&A much quicker and cost-effective by eliminating the need to mail physical documents or travel to meetings.

VDRs are also beneficial for strategic partnerships, in which parties work together to create new products or expand an existing business. It can be challenging for partners to access data without divulging sensitive information or triggering an unintentional violation of compliance.

Security is the primary aspect to consider when selecting a VDR, whether it’s to be used for due diligence, M&A or internal collaboration. Modern VDRs are equipped with multi-factor authentication, advanced encryption both in transit and at rest, audit logs and other security measures to reduce risk. They also include features such as watermarking, disabled printing and blind view to guard the privacy of confidential documents. This ensures that only authorized users are allowed to access the document and demonstrates a commitment to data integrity. The top VDRs also offer the ability to analyze file activity and user activity that can be accessed by administrators for accountability.

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