Online data rooms are a user-friendly, secure platform for sharing and co-working sensitive documents. They are utilized for a variety of projects that require high levels security and privacy. These include M&A transactions, venture capital and private equity financing, lending, loan syndication and litigation support.
Online deal rooms are a great tool to use for M&A due-diligence, when both the sell-side and the buy-side need to prepare and review a huge amount of documents. Having all of the documentation in a single, secure place lets both parties make informed decisions quickly and reduces the risk of deal failure due the discovery of sensitive information.
To protect sensitive information To safeguard sensitive information, virtual data rooms offer the ability to grant access to documents in a way that allow administrators to establish rules for each folder and files in the repository. They can also enable redaction, fence view (which blacks out certain areas of files to ensure personally-identifiable data stays private) and prevent screenshotting. Moreover, most VDRs have security certificates that verify their credibility, such as ISO 27001, SOC 1/2/3 GDPR, ISO 27001 and HIPAA.
Online deal rooms are also recognized for their seamless integration through APIs that work with existing tools and system. This makes them compatible with a variety of popular applications and programs, including Microsoft Office, email, chatting apps and more. This dramatically streamlines workflow and improves collaboration and communication. Many online deal rooms offer round-the-clock customer service through multiple channels, and also a wide selection of instructional videos to help users get started.