What Is a Virtual Data Room?

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A virtual dataroom (VDR) is an application developed for the purpose of secure document sharing and due-diligence. This is distinct from popular file-sharing applications like Dropbox or Google Drive, which aren't designed for business-related use that require greater security and compliance adherence.

M&A when a company is considering an acquisition or otherwise needs to disclose sensitive information to potential buyers, VDRs provide a seamless way to grant access as well as monitor the activities. For example, a VDR with a robust activity tracking lets administrators know who has accessed and downloaded files, as well as the times they were accessed. This helps to ensure that no one has access to confidential documents without authorization. The ability to immediately revoke access is also valuable should the deal fail to conclude.

Private Equity & Venture Capital - The process of raising capital often requires multiple rounds with sophisticated investors. A web-based VDR allows companies to securely share financial documents and records with investors while maintaining the control over the information.

A VDR can support e-Signatures for contracts and other documents. This eliminates the need for draft documents to be exchanged via email or using a third-party eSign service, which can create security risk. Most modern VDRs also support granular security options for files and folders. They can also apply real-time labeling, classification labels, vectors and permissions to block access to data that is not authorized. They can also create reports and analytics for admins to monitor the activity of data.


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