VDR for business is an online platform that is secure for data transfer during transactions. Its main features are an extensive control of access real-time reports, as well as the efficient handling of large amounts of documents. It also supports a variety of file types, and comes with an user-friendly interface. A high-quality VDR offers a customizable virtual archive that includes features like fence view, redaction built in, and a range of security options that are superior to those found on file-sharing platforms for consumers or via email.
The most commonly used use of VDR for business is due diligence during mergers and acquisitions. This process can involve hundreds if not thousands of pages and requires meticulous reviews. A VDR is a powerful tool for sharing financial information with other stakeholders during capital-raising, IPOs, bankruptcy and restructuring processes.
Another major benefit of a good business VDR is the ability to determine users’ access rights. You can grant users access to specific folders or documents. It makes the whole due diligence process quicker and more efficient. For example angel investors may not have access the same documents that auditors do.
Using a VDR for your company will reduce time and cost. It will eliminate the need to print out documents and send documents to various locations for review. This is especially useful when working with international teams. It also reduces the need for long conference calls, and allow you to share presentations online with employees.