SSL and online data room
A virtual dataroom is a safe location to share sensitive information. This is particularly useful to support corporate events that require disclosure and review of confidential documents to parties outside of the firewall. VDRs also offer features like audit trails and reports that help track activity, protect against leaks, and help prevent accidental disclosure of documents.
Due diligence in M&A transactions is the most commonly used application of the VDR. This is because the sell-side requires a secure platform to share the documentation with prospective investors and the buy-side demands an easy method to review the documentation.
Other applications for the VDR include fundraising and other high-stakes business activities. For example an equity firm that is private might use the VDR to provide documentation to potential investors and provide access to the company’s financial performance as well as growth metrics.
When you are choosing a VDR pick one with a solid reputation and has a wide array of features. Be sure that the vendor offers an easy-to-use interface and offers support and training to help users get acquainted using the software. Also, search for a business that meets security standards and certifications.
A top VDR will have collaboration tools including search capabilities, comprehensive audit trails, and reports. You can also upload and manage documents easily and set up permissions to control who can view, edit and download specific files. Then, when the process or project is completed, it will be easy to remove access.