Virtual Data Rooms (VDRs) are online software tools to manage and store files that permit business users to securely exchange confidential documents. These unique business software tools facilitate document sharing, provide an efficient collaboration system and automate business processes. They are particularly useful during the M&A processes, when large volumes privileged documents need to be shared with a third party to ensure compliance with privacy and compliance.

In order to conclude a merger or an acquisition quickly and efficiently, the buy-side needs to work in tandem on due diligence documents. In a VDR the business user can upload and download documents, set up security for different parties and easily monitor access. They can also mark folders or documents as favorites, which speeds reviewing by allowing them to revisit content easily.

Law enforcement agencies and legal firms use VDRs to collaborate with clients, internal teams as well as third-party partners when they require secure sharing of documents. They require software that offers powerful Q&A features, powerful search functions and compliance reporting.

Pharmaceutical and biotech companies need to share their intellectual property with potential investors, partners and researchers. They must ensure that information is secure and available for business, using features like multiple granular permissions including snapshot blocking and view-only mode, eSignature integration, and more.

Private equity and funds utilize VDRs to streamline their M&A and investment advisory projects by facilitating document sharing and improving collaboration. They require a software application that enables them to upload and download sensitive information easily, offer advanced search capabilities, make it easier to accelerate the process of due diligence, and offer a convenient way for investors to access the documents they've requested.