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It isn’t easy to share sensitive data with outside parties, whether to facilitate due diligence, collaboration, or to prevent a breach of compliance. Virtual data rooms simplify document sharing and automate processes to allow companies to efficiently complete a range of business functions.

VDRs are most commonly utilized for mergers and acquisitions, but any business can benefit from an easy-to-use platform that centralizedizes files instead of sending them back and forth via email. Virtual data rooms can assist you to streamline the process of raising funds from investors, or getting ready for an IPO. They also allow users to locate the documents they require in an well-organized way.

A good VDR will allow you to limit access to specific documents or folders. Many providers offer extensive reports and logging features that monitor user activity, including who viewed which documents and when they viewed them. Additionally, a strong search feature and the logical structure of folders makes it easy for users to navigate the data and locate what they’re looking to find quickly.

A key feature is the capability for users to create custom document views based on their job or responsibilities. By granting specific viewing privileges it is possible to ensure that only relevant documentation is viewed and avoid miscommunication and loss of productivity. Many providers also provide a drag and drop interface that makes it easy to upload files.