Virtual data rooms are designed to facilitate collaboration through a central repository where teams, partners and customers can view and work on documents in real-time. They also have built-in auditing and activity tracking capabilities that give a complete list of who has visited what and when. This can help in detecting suspicious activities and ensuring that you are in compliance with data security regulations.

M&A — M&A deals require a large amount of documentation to be shared and viewed by both sides. VDRs are the perfect tool for managing this process safely, efficiently and effectively.

Banking Investment bankers require secure access to confidential documents from their clients as well as third parties for M&A, capital raising and other projects. VDRs are a cost-effective alternative to meetings in person and eliminate the requirement for document storage courier services, office supplies and office equipment.

Construction & Service Contracts

Contractors need to share a large number of confidential documents with one to complete projects and to keep their business relationships. This requires a robust, reliable and secure tool that lets them access documents from anywhere with an internet connection. VDRs offer a safe alternative to email and physical files that can be viewed from any device or geographical location.

Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform to collaborate on confidential documents with investors, partners and other stakeholders. These companies can use VDRs to track developments, assess the interest of investors and monitor the how documents are used by their users.