Virtual data rooms (VDRs) are software for business that allows the safe and secure sharing of sensitive corporate documents. They are frequently used in M&As, strategic reviews, and capital raises. Companies of all sizes and sectors can use them. They can be accessed through web browsers or mobile apps. They provide expert support through different channels such as in-app live chat, phone, and email. Their customer service team usually speak several languages and are able manage even the most difficult requests.

VDRs are commonly employed for due diligence in M&A transactions, when potential buyers require a platform for reviewing the documentation. However, VDRs can be useful for companies in any situation that requires the review of confidential documents from external parties.

Some VDRs offer advanced encryption both during transit and when the document is in storage. They also offer granular permissions for documents and have distinct access and revocation processes. This protects your most important information and helps prevent data theft from unauthorised third parties. They also allow the customization of folders and documents by incorporating features such as watermarking, disabled printing, blind view, and much more.

Other important features include an easier way to communicate and collaborate via Q&A, chat tools built-in and granular authorizations for individual documents. VDRs provide more transparency than other systems for document management and assist you in making better decisions using reports, analytics, and versioning. They can help automate processes that would otherwise be time-consuming or tedious. This helps reduce the chance of errors, particularly during high-stakes processes or ones that require a lot of documents.

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