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What Are Virtual Data Rooms?

Virtual data rooms are designed to improve collaboration by providing a central platform that teams, partners as well as clients can access and work on documents in real-time. They feature auditing and activity tracking features built in, that provide complete records of who has accessed what at what time. This will help in identifying suspicious activities and ensuring the compliance with data protection laws.

M&A – M&A transactions require a substantial amount of documentation that has to be reviewed and shared by the sell-side and the buy-side. VDRs are the best instrument to manage this process efficiently, securely and effectively.

Banking — Investment banks need secure access to confidential documents from clients as well as third parties to complete M&As, raise capital and other projects. VDRs are a cost-effective solution that eliminates the need for in-person meetings and document storage spaces, courier services and office supplies.

Construction & Service Contracts

Contractors are required to share a variety of confidential documents to complete projects and maintain business relationships. This requires a strong and reliable tool that allows them to access documents from anywhere with an internet connection. VDRs are a secure alternative to physical and email files that can be viewed from any device and the location.

Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform to collaborate on confidential documents with partners, investors and other stakeholders. VDRs help these companies keep track of progress in analyzing investor interest and keep track of how documents are used by their users.

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