Virtual Data Room allows businesses to securely share documents with other parties. It’s used by a range of industries including life science, technology, banking, M&A, and more.

Virtual data rooms are commonly used for M&A transactions, which is the most frequent application of VDRs. They assist in due diligence, and conclude transactions with less risk. This is crucial, as M&A can involve large amounts of documents and be extremely sensitive.

A VDR can cut down on M&A risk by offering granular permissions for users, secure spreadsheet viewers and other features like screen-only mode, screenshot blocking and more. This way, only the right people can access and view the data. Security for the infrastructure is also assured by multiple backups and virus scanning, redundancy of data centers and more.

Financial service companies manage an abundance of information which ranges from contracts to other legal documents to financial data and reports. This makes them a perfect candidate for VDRs. VDR because they can save their documents securely and share them with third parties quickly SecureDocs and easily.

Investment banks use online document sharing tools to facilitate M&A transactions as well as capital raising. To make the most efficient use of their resources, these firms need an VDR that comes with a broad range of collaboration features and flexible pricing plans. Investment banks, for example require an option that has speeds of 5MB for uploads, SmartLock, which allows the revocation of access to documents after they have been downloaded, as well as built-in redaction and DocuSign integration.