What Industries Use Virtual Data Room?

Virtual Data Room is a secure cloud storage solution that allows businesses to share their documents with third party securely. It is used by a variety of industries like life science technology, banking, M&A, and more.

Virtual data rooms are commonly used for M&A transactions which is the most common application of VDRs. They help facilitate due diligence, and close transactions with less risk. This is especially crucial because M&A involves large volumes of documentation, and can be extremely sensitive.

A VDR can cut down on M&A risk by offering users with specific permissions who have secure spreadsheet viewers as well as other features, such as screen-only mode, screenshot blocking and more. So, only the appropriate users can view and access the data. Infrastructure security is also assured with multiple backups Generic File Sharing Services and virus scanning.

Financial service companies have a large amount of information to manage from business contracts to other legal paperwork to financial data and accounting reports. This makes them a perfect candidate for VDRs. VDR because they can safely store documents and share with third parties quickly.

Investment banks utilize online document sharing tools to facilitate M&A transactions as well as capital raising. To maximize efficiency the firms require an VDR which offers a broad range of collaboration features as well as a flexible pricing plan. For instance an investment bank might require a solution that has an upload speed of 5MB per second, SmartLock that allows revoking access to documents after they’ve been downloaded built-in redaction features, DocuSign integration, and many more.