Virtual data rooms are a convenient and efficient way to share and store sensitive documents for business transactions. Typically, virtual data rooms are utilized by companies looking to process an M&A deal, or by life sciences organizations which have intellectual properties that need to be secured and carefully stored.

You can view and access documents using a VDR from any place with an internet connection. This removes the need for physical travel and accelerates due diligence for buyers all over the world, increasing the chances of an efficient transaction. Secure remote access also lets you to protect your files with advanced encryption and strict access controls. A thorough activity tracking system and audit trails are important features that allow you to track who prints, views or downloads what files.

VDRs offer a range of other time-saving features, including unlimited scrolling and a custom search bar to speed up document scanning. They are also great for collaborative projects since they support multiple users logging in description simultaneously. You can also control the access rights that each user gets with regard to access to documents.

You can access your VDR on the go by downloading an app for your mobile, which is ideal for remote work. Modern vendors provide professional customer support via chats on the app multilingual support teams, email and phone, help centers and videos about their products. It’s important that your VDR provides 24/7 support because M&A transactions, and other crucial processes, don’t follow a 9-5 schedule.