Virtual data rooms are designed to improve collaboration through a central repository that teams, partners and clients can review and work on documents in real-time. They feature monitoring and auditing capabilities built in, that provide a complete history of who accessed which documents when. This helps in identifying suspicious activities and ensure compliance with data protection regulations.
M&A – M&A transactions require a significant amount of documentation that has to be shared and reviewed by the sell-side as well as buy-side. VDRs are an ideal tool to ensure this process is managed efficiently in a safe and efficient manner.
Banking — Investment bankers require secure access to confidential documents from their clients as well as third parties for M&A capital raising, as well as other projects. VDRs offer a cost-effective solution that eliminates the need for in-person meetings, document storage space, courier services and office supplies.
Construction & Service Contracts
Contractors must share a large number of confidential documents with each other for the completion of projects and to keep their business relationships. This requires a sturdy, reliable and secure tool that allows them to access documents anywhere and anytime with an internet connection. VDRs offer a secure alternative to physical files and emailing. They can be accessed via any device or from any location.
Biotech/Pharma – R&D in life science companies requires high-level security, as well as an opportunity to collaborate on confidential documents with investors, partners and other stakeholders. The companies can utilize VDRs to track developments, assess the interest of investors and monitor the how documents are used by their users.