A virtual dataroom (VDR) offers a secure way to share sensitive documents. It provides high-security with access permissions that can be customized. When compared to rudimentary storage options for data that generally allow only viewing and downloading, VDRs offer more than just downloading and viewing. VDR can also provide search capabilities that allows for easy collaboration between different parties, and the ability modify access rights for each user.
Due diligence can be a long process that requires many parties to go through a large amount of information. It can lead to long and drawn-out deals or even the death of the deal in the event that the documents are not complete and properly prepared. A VDR permits all relevant data to be shared, reviewed and accessible by multiple parties in one location. This can reduce delays due to miscommunications or a lack of documentation.
VDRs are useful for a number of other business needs as well, such as preparing portfolio companies for an IPO or fundraising that requires the company to share confidential financial documentation with a third party. They are extremely beneficial for investors as they arrange documents into logical subfolders for easier navigation, and grant access rights with a single click.
For the life science industry, VDRs are the perfect solution for sharing confidential intellectual property with investors and potential partners. With the help of granular document activity tracking it is possible to track who has viewed what documents. VDR allows users to see exactly who has viewed what documents and for how long. This information can be helpful to determine if a project is being sufficiently explored and generating interest among potential investors. It can also help avoid the risk of divulging confidential information to the wrong people.
Comments are closed