Virtual data rooms are designed to facilitate collaboration by providing a central platform that partners, teams as well as clients can access and work on documents in real-time. They also feature built-in activity tracking and auditing capabilities that provide a complete record of who accessed what and when. This is a great way to detect suspicious activities and ensure the compliance.

M&A – M&A transactions require a significant amount of documentation that must be reviewed and shared by the sell-side, as well as the buy-side. VDRs are the perfect instrument to manage this process efficiently, securely and effectively.

Banking Investment bankers require secure access to privileged documents from their clients and third parties for M&A capital raising, M&A and other projects. VDRs are a cost-effective option that eliminates the need for meetings in person and document storage spaces as well as courier services and office equipment.

Construction & Service Contracts

Contractors must communicate a huge amount of confidential documents with each other for the completion of projects and to keep their business partnerships. This requires a sturdy and reliable software that allows contractors to access documents from anywhere they have an internet connection. VDRs are a safe alternative to emailing and physical files. They can be access from any device or location.

Biotech/Pharma — R&D for life science companies requires top-of-the-line security and a platform for collaboration on confidential documents with investors, partners and other stakeholders. These firms can use VDRs to track progress, evaluate the interest of investors and monitor the ways in which documents are used by their customers.