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  Posted: October 23, 2023

What Is a Virtual Data Room?

Virtual data rooms are https://dataroomhosting.com/types-of-cloud-computing/ commonly utilized by businesses to share confidential documents among multiple stakeholders. These platforms are software-based and allow authorized users to access documents on any device. They prioritize security over sharing capabilities, and they typically offer multiple layers of protection to ensure that documents remain private.

The majority of VDR providers also offer an extensive array of support services that assist customers with their use of the platform. Live chat is available in the app or phone as well as training videos and dedicated team managers or project managers. Most modern VDRs are cloud-based and are compatible with mobile devices. This makes them easy to access from any location, at any time.

Virtual data rooms can be used to share sensitive information and are especially useful in complex financial transactions, like mergers or acquisitions. Both sides of a deal need to approve and review the documentation prior to the transaction taking place. Using VDR to store and share VDR to store and distribute the necessary documents ensures that the company can stay compliant and audit-friendly with the least effort.

Some of the key features that most VDRs include are redaction (blacking out areas of a file so personally-identifiable information stays private), fence view (which shows only a small part of a document and prevents screenshotting) and granular document permissions (controlling who can read, edit, download, print and upload). Some VDRs even provide branded watermarking to ensure a uniform look and feel across all documents that are printed or downloaded on the platform.