Many people are familiar with file sharing services like Dropbox or Google Drive. They’re not as easy or secure as a VDR that is specifically designed for use in business. With an enterprise VDR users are able to securely collaborate on files in real time and revoke access to them immediately in the event of a security breach. A VDR can also allow administrators to get detailed reports on document activity, including the length of time each document was viewed and by who.
Many businesses rely on a virtual data room to facilitate complex financial transactions and other mission-critical processes. Investment banks, VCs, and private equity firms often analyze multiple transactions simultaneously, generating a lot of data.
By using an intelligent virtual information room, it’s simple to identify important trends in the data and speed up due diligence for M&A. Furthermore, if the company is contemplating an IPO or capital raising then the VDR can assist in keeping the process going smoothly.
Energy and mining companies share large volumes with regulators and investors. By using the VDR for business, it’s easy to manage access and ensure compliance. With features like fence view with built-in redaction features, granular permissions and remote shred, a VDR can offer better online security than a generic cloud storage service. A reputable business-focused provider of VDRs can also provide 24/7 support and instant assistance when a problem arises.