A virtual dataroom de (VDR), is an online secure repository which stores business documents. It allows for the exchange of data between parties in a controlled environment. It also assists companies in conducting due diligence in M&A transactions as well as loan syndication and venture capital and private equity deals. VDRs are also a viable alternative to physical datarooms for the storage of documents in the event of a disaster or when resources are strained.
During mergers or acquisitions the majority of the information is shared between parties. This includes sensitive corporate documents and intellectual property. To ensure privacy and compliance, this information must be secured. Utilizing a VDR simplifies communication, safeguards information and ensures compliance. Select a VDR that is fully integrated into your business workflows and IT systems. Consider a solution such as Firmex that provides highly adaptable interfaces. It can also be personalized to match your company’s brand. Select a company that provides 24/7/365 support and has the industry knowledge to understand the business processes of your organization.
Make sure whether the VDR you are considering has granular settings for permissions dependent on roles of users and what they have to know. It should also allow MFA and monitoring user logins to check IP, device and location for access that is not authorized. It should also offer various reporting tools to assist your team to draw conclusions from your VDR’s information. In addition, make sure the platform is easy to use for both you and your prospective buyer or investor.