It’s crucial that companies have all the data they need to make important decisions, like M&A deals, tenders, or capital raising. This may mean searching through thousands or tens of thousands of sensitive documents that could be vulnerable to hackers, data breaches and other security threats. There’s a solution that allows easy access, secure document storage, and collaboration tools. It’s called a virtual data room (VDR).

A VDR is business software that facilitates the easy, secure and transparent sharing of data in due diligence procedures. It was specifically designed for the M&A and private equity markets but can also be used by anyone who is planning to execute major deals or projects. It’s a cloud-based secure repository that holds important documents including financial statements as well as legal agreements.

The most effective VDRs are those with a a clear folder structure which makes it simple to navigate. They have customizable security features which allow you to limit access to files by creating timeouts as well as auto-expiration. You can also restrict viewing, printing and downloading of documents and generate reports about the activity of your documents.

VDRs are typically housed in data centers with standard security features including fire suppression, biometric access control and offsite data backups. They also have global access which makes it easier for potential buyers and investors to look over important documents without having to go to the headquarters of your company or other locations.

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