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Many people are familiar with file sharing services like Dropbox or Google Drive. However, they’re not as convenient and secure as an enterprise-grade VDR which was created specifically for use in business. Users can collaborate securely on files in real-time and immediately revoke access in the event of any security breach. A VDR also allows administrators to obtain detailed reports on document activity, including how long each document was reviewed and by who.

Virtual data rooms are utilized by a variety of businesses to facilitate complex financial transactions and other crucial business processes. Investment banks, VCs, and private equity firms typically analyze a variety of deals simultaneously producing a great deal of data.

Using an intelligent virtual data room, it’s easy to recognize significant trends in the data and simplify due diligence for M&A. In addition, if the company is considering an IPO or capital raise, the VDR can help keep the process going smoothly.

Similarly, mining and energy companies often share large amounts of documents with regulators and investors. Utilizing an intelligent business VDR is easy to control access and ensure the compliance of regional regulations like GDPR and CCPA. With features like fence view integrated redaction, built-in permissions and remote shred, it’s possible to use a VDR can provide better online security than any cloud storage service. A reputable provider of business VDRs will also offer 24/7 support and immediate assistance if an issue arises.