Virtual data rooms (VDRs) are business applications that permit the safe and secure sharing of sensitive corporate documents. They are often used in M&As and strategic reviews and capital raises. Businesses of all sizes and industries can benefit from them. They can be accessed through web browsers or mobile apps. They offer professional support via multiple channels like in-app live chat, phone and email. Their customer service teams usually speak several languages and are able handle even the most complicated requests.

The most frequently used use for VDRs is M&A due diligence, in which potential buyers need a platform to review the documentation of the company. VDRs are useful for any scenario where sensitive documentation virtual data room advantage needs to be reviewed by external parties.

Some VDRs come with advanced encryption for the process and in the rest of the device and at rest, as well as granular document authorizations and discrete access and cancellation procedures. This protects your most crucial data and keeps it safe from unauthorised parties. They also allow for the personalization of folders and documents by incorporating features such as watermarking, disabled printing, blind view, and more.

Other features that are important include simplified communication and collaboration through Q&A, an integrated chat tool and granular permissions for each document. VDRs provide more transparency than other document management systems and can help to make better decisions through analytics, reports and versioning. They can automate processes that would otherwise be long or laborious. This can reduce errors, especially in high-risk processes or those that require lots of documents.