Online vdrs have come along a long way. They are now easy to use, with transparent pricing, practical functions that are utilized as well as a user-friendly interface 24/7 support, and more. The best ones are highly secure, too – but they don’t impede collaboration, even when you’re in your pajamas at home or in the field.
Many businesses and industries use online vdrs that share documents during M&A deals, joint ventures, asset sales due diligence, tenders, audits, and integration after the deal. These projects often involve the exchange of sensitive documents that need to be scrutinized together by outside parties.
Investment banks and law offices are big users of online vdr. For example, Goldman Sachs uses a virtual data room during its M&A transactions to facilitate the sharing of confidential financial documentation with other parties. CBRE, a leading real estate service provider around the globe, also integrates a VDR into their workflows to manage transactions and share important documents with multiple parties.
In M&As, lawyers typically review numerous documents within a short amount of time. They must also make sure that the information is understood and analyzed so that they can give clients advice on transactions that will meet their goals. A VDR can simplify the entire process and eliminate the necessity of printing documents, which can slow down the review. Additionally, online VDRs can be set to deactivate printing and limit copying and saving.