A secure data room is a way to share the management and storage of confidential documents online with selected third parties. VDRs are commonly used across a range of industries. They are primarily used in M&A, fundraising and asset sales, project management and more.
The top VDR providers provide a variety of features that can meet the individual needs of different types of users. They include customizable folder structures Content templates, Q&A workflows, and robust audit logs. They are also simple to set up, offer the best support in the industry and have quick setup times.
SecureDocs virtual information room, for example allows companies to set up their deal rooms in minutes. Account activation is quick and easy – there’s no need to speak to a salesperson. It is a trusted service by companies across the globe to complete billions of dollars worth of successful transactions.
Attorneys use VDRs to conduct due diligence on their clients and to share documents with them. Local mortgage brokers and banks also utilize VDRs to collect information, organize and share loan application and processing documents with their external partners. Manufacturers also rely on VDRs for their secure collaboration and distribution of material during large-scale projects or contracts, as do venture capitalists private equity firms, and hedge funds, to streamline the process and guarantee confidentiality. These solutions are more reliable than generic software for sharing sensitive documentation in M&A or IPOs as well as restructuring deals.