Digital Data Rooms

The virtual dataroom (VDR) provides an encrypted platform for sharing documents in a variety of business scenarios. The VDR is a great tool for sharing documents in almost any circumstance such as due diligence or an IPO or reorganization. The best VDR providers provide professional customer service through multiple channels, including live chat in the app and via phone. Many of these solutions provide support for multiple languages, as well as training videos.

The most popular use-case for the digital data room is during due diligence in M&A transactions. In this scenario the sell-side would like to share all relevant documentation with prospective investors in a secure environment but they also have to ensure that all sensitive information remains secret. The VDR ensures that all documents are accessible only to people who need them to do their job. This is accomplished through the assignment of granular access rights to individual folders and files.

Furthermore, the logical layout of the file system and easy navigation makes it easy for this link users to locate what they need. Some VDRs allow users to change the data room theme, and to add logos for companies on the dashboards.

Digital data rooms are accessible from any device with internet connectivity and a web browser. This allows for greater communication between directors of boards and facilitates faster decision-making as well as an efficient workflow. Digital data rooms also provide an audit trail of all activity. This includes everything from the time the file was viewed to the IP address from where it was accessed.