Virtual data rooms are created for collaboration. They offer an integrated platform that allows teams, partners, and clients to review and edit documents in real time. They also come with built-in auditing and activity tracking capabilities that provide a full history of who has accessed what and when. This can help in detecting suspicious activities and help ensure that you are in compliance with data security regulations.

M&A – M&A transactions require a substantial amount of documentation that must be reviewed and shared by the sell-side, as well as the buy-side. VDRs are the perfect tool to manage this process effectively, safely and effectively.

Banking — Investment banks need secure access to confidential documents from clients as well as third parties to be able to complete M&As as well as raise capital for other projects. VDRs can be a cost-effective substitute to in-person meetings and eliminate the necessity for document storage, courier services, office supplies and office equipment.

Construction & Service Contracts

Contractors must share a variety of confidential documents with each others to finish projects and to maintain their business relationships. This requires a robust and reliable software that allows contractors to access their documents wherever they have internet access. VDRs provide a secure alternative to physical files and emailing. They can be access from any device or location.

Biotech/Pharma — R&D for life science companies requires high-level security and a platform for collaboration on confidential documents with investors, partners and other stakeholders. These companies can use VDRs to monitor developments, assess investor interest and track the ways in which documents are used by their customers.