The virtual dataroom (VDR) offers a secure platform to share documents in a variety of scenarios. The VDR is a fantastic tool for document sharing in any scenario such as due diligence or an IPO, or reorganization. The best VDR providers provide professional customer service through a variety of channels, including live chat in-app and phone. Many of these solutions offer multiple languages as well as training videos.

The most frequent use for a digital dataroom is in original site due diligence during M&A transactions. In this scenario the sell-side must provide all relevant documentation to potential investors in a secure environment however, they must also to ensure that any sensitive information remains confidential. The VDR ensures all documents are accessible only to those who require them to do their job. This is accomplished by granting access rights in granular fashion to individual files and folders.

Furthermore, the logical layout of the file system and its intuitive navigation make it easy for users to find the information they require. Certain VDRs provide the option to customize the data room theme, and to place logos of companies on the dashboards.

Another great feature of digital data rooms is that they are accessible on any device, as long as it has internet access and a modern web browser. This allows for easier communication between boards of directors, which results in quicker decision-making and an efficient workflow. Additionally digital data rooms give an audit trail of all activities, from when a file is viewed to which IP address it was visited from.