Most providers offer a free vdrblog.com/cloud-storage-redefined-unlocking-the-future-of-secure-data-management-with-virtual-data-rooms/ trial to test the functionality, security and price of a virtual dataroom (VDR) before deciding to use it to share sensitive documents with other parties. While these are all important however, many do not consider that the real value of a VDR is in its unique capabilities that support the sharing of confidential data for critical processes.
VDRs are a great option for professionals who must share sensitive documents with investors, service providers and third-party organisations. Whether the document in question is financial and HR information, legal documents from clients and proprietary intellectual property documents, or a business plan the right configuration of a VDR can ensure that documents are only viewed by only those with the appropriate permissions.
Mergers and Acquisitions (M&As) procedures require large quantities of documents to be exchanged. These documents should be reviewed in a safe manner by a variety of parties. The VDR’s powerful permission settings and easy-to-use folder structures make it the ideal repository for these due diligence procedures.
VDRs are used by biotech and pharmaceutical companies to share confidential formulas and molecules with regulators and other labs as part of their research and development processes, or in preparation for fundraising and licensing. A VDR that is specifically designed for this purpose is the most suitable solution since such information is extremely confidential and requires strict data protection standards.
It’s the same with commercial real estate developments where investors and buyers require to read large-format blueprints, financial statements and more. A VDR allows them to do this without the restrictions of email or file-sharing services, which often require long downloads or uploads, and are incapable of handling multiple users at the same time.