Virtual data rooms are a popular method to share sensitive documents, like intellectual property, financial documents, litigation files and more. They provide granular activity monitoring which allows users to see the documents that have been opened by whom, helping with security audits. VDRs allow more participants to be part of the process than traditional datarooms, which reduces travel expenses and allows companies to close deals more quickly.
M&A due diligence is one of the most common uses of the VDR and requires storing, reviewing and granting access to a wealth of documentation. In this respect, a custom-built VDR like DFIN’s Venue is a top choice due to its advanced features, such as AI functions that help to increase efficiency and improve accuracy, auto-indexing, digital watermarks, full-text searches and automatic redaction. It www.vdrsystems.net/what-is-keep2share/ also helps streamline workloads by automation and provides a single sign-on, a customizable user interface, and comprehensive reporting.
A VDR should also have detailed monitoring of all activities. This will aid with M&A due diligence and give users a better understanding of document activity. A quality VDR has in-app chats, email and phone support that is multilingual and assist centres with videos of the product. A quality VDR also offers flexible pricing plans that include per-storage and per-page. It also comes with a robust collaboration suite, which includes annotations, Q&As, and the ability for tasks to be assigned. This means you can be sure that your team members have the tools they require to get their jobs done even when they’re working remotely or in different time zones.