The most popular use of a dataroom virtuale is to complete market transactions like Mergers and Acquisitions. During this phase buyers need access to large quantities of confidential documents that are stored in various locations. A company has to rent the space for storage of files and employ security guards to monitor the space 24 hours a day. The introduction of data rooms can eliminate the need for this and saves on operating expenses.
A VDR can also aid businesses in keeping records of who has access to documents and how. Administrators can define specific permissions for which documents a user can view and print out, as well as download. It can also add dynamic watermarks to documents that indicate who has visited them and when. This ensures that confidential information is not lost.
The platform permits the sharing of sensitive documents with a variety of third parties like accountants or lawyers. This is especially important when a company has to disclose sensitive information as part an audit or other regulatory process. A virtual dataroom allows these outsiders to quickly review the company’s files without risking leakage or compliance violation.
When you’re planning for an M&A deal or going public, or collaborating on contracts with clients, the appropriate VDR will aid you in getting the job done and remain legally compliant. Find a VDR that has a range of flexible functions and features, such as AI functions that can simplify and accelerate contract review. DFIN’s Venue for instance makes use of AI to provide significant efficiencies and insights during due diligence by decreasing repetitive requests, automating the process and allowing full-text searches and auto-redaction.