A virtual dataroom de (VDR) is an online, secure repository that houses documents for business. It permits data to be exchanged between different parties in a controlled environment and helps companies perform due diligence on M&A deals such as loan syndication, venture capital and private equity deals. VDRs are also a viable alternative to physical datarooms for storing documents in the event of disaster or when resources are strained.
During mergers or acquisitions a large amount of information will be shared among the parties. This includes sensitive corporate documents and intellectual properties. For privacy and compliance reasons the information shared must be protected. Using VDRs VDR simplifies communication, safeguards information and ensures compliance. Select a VDR that is fully integrated into your workflows and IT systems. Firmex is a good choice that can be tailored to meet your specific needs and has highly adaptable interfaces. Select a firm that offers 24/7/365 support and the industry knowledge to understand your business’s processes.
If you are searching for a VDR ensure that it supports granular permissions settings for users depending on their role and requirement to know. It should also offer MFA and monitoring user logins to monitor IP, device and location for any unauthorized access. It should also offer an array of reporting tools to help your team draw conclusions from your VDR’s information. Finally, ensure that the platform is easy to use for both you and your prospective buyer or investor.