Many people are familiar with file sharing services like Dropbox or Google Drive. They’re not as user-friendly or secure as a VDR that is designed for use in business. With an enterprise VDR users are able to securely work on documents in real-time and also revoke access immediately in the event of a security breach. A VDR allows administrators to receive complete reports on document activities and the length of the time that each document was seen by whom.
Many business rely on a virtual data space to facilitate complex financial transactions as well as other mission-critical processes. Investment banks, VCs, and private equity firms typically review multiple deals at the same time and generate a lot of data.
By using an intelligent virtual information room, it’s simple to spot important trends in the information and streamline due diligence for M&A. Furthermore when a company is contemplating an IPO or capital raising and the VDR can assist in keeping the process going smoothly.
Energy and mining companies have large volumes of data shared with regulators and investors. By using a VDR for business, it’s easy to control access and ensure compliance. A VDR provides an extra level of security online compared to the cloud-based service that is generic, with features like fence view, built in redaction, granular access, and remote shred. Furthermore, a reputable company VDR provider will offer instant assistance (and 24/7 support) when there is an issue.