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A virtual dataroom (VDR) provides a secure digital environment for storing and sharing sensitive documents. It enables individuals and companies to work together in a secure environment, while protecting sensitive information from unauthorised access. It also enables for quicker and more efficient document exchanges as well as due diligence and strategic reviews. VDRs form the basis of a myriad of tangible outcomes, ranging from M&A to tenders, capital raises and audits.

During the due diligence process investors require access to critical legal, financial, and operational documents. To ensure a successful deal it is crucial that the buyer side has access to these documents. A virtual data room allows you to upload and share these documents. Administrators can alter the permission settings to limit what documents users are able to view and print, or download. Administrators can also set expiration dates, and also revoke remote access for document disclosure.

The collaboration features of VDR’s collaboration features VDR can help streamline the process, and foster a productive working relationship between team members. These include real-time commenting annotation, ad hoc commenting, and control of the version. Many VDR providers also provide a central repository for all files. This makes it unnecessary to include large attachments in emails and helps to find specific versions of files.

VDRs are hosted on the internet which makes them accessible to everyone. This allows investors to take part across the globe in a transaction and increases the competition for a business being sold. Additionally a VDR can be used to keep contracts and other documents required to maintain business relationships.