Virtual data rooms allow companies to store information and make it instantly available to a limited number of users. VDRs use encryption standards and access control features that permit them to track who is watching or downloading information and to revoke access for those who no longer require access, no matter where they are located in the world. This is vital since data breaches are becoming more frequent, and because laws such as GDPR and CCPA require companies to protect their data.
Streamlined M&A Due Diligence
Large-scale business deals typically require large amounts of information which need to be shared with a variety of stakeholders, typically in different locations. Using a VDR for this purpose allows all parties to effectively collaborate on the project without worrying about the risk that their confidential information could be exposed to hackers or other unauthorised persons.
This degree of security makes it simpler to move projects forward quickly. VDRs are a great option for projects that require speed. VDR eliminates the requirement to copy documents, index them and then scan and upload them to an online system, which means that more information is available to investors and bidders earlier. VDRs can be accessed on any device, and are ideal for remote meetings or collaborative working. Many advanced VDRs, like CapLinked come with tools that are compliant with privacy laws regarding data and automatically delete sensitive information. They can also include artificial intelligence capabilities, for instance scanning of files and information organization and searching, which can enhance the user experience.