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A virtual data room (VDR) is a purpose-built platform for secure sharing of documents and due diligence. This differs from the file-sharing apps like Dropbox or Google Drive, which aren’t designed for use in business that require enhanced security and compliance.

M&A If a company entertains an acquisition offer or needs to disclose sensitive information to potential buyers, VDRs provide a seamless method to grant access and track activities. For instance, a VDR with a robust activity tracking allows administrators to know who has accessed and downloaded files, and at what times they were opened. This ensures that confidential files are not accessible to anyone without permission. Additionally in the event that a deal does not close, the capability to revoke access instantly is valuable.

Private Equity & Venture Capital – Raising capital can often require multiple rounds of sophisticated investors. A VDR online platform allows businesses to securely transfer financial records and legal documents while keeping the information under control.

A VDR also supports e-Signature of contracts and other documentation. This means that you don’t have to send draft documents back and forth through email or use an outside eSign provider, which could create additional security risks. The majority of modern VDRs support specific security options for folders and files. They can also use real-time vector labels, classification labels and permissions to block access by unauthorized individuals. They can also produce reports and analytics for admins to monitor data activity.