Virtual Data Room is a secure cloud storage solution that allows businesses to share documents with third-party users securely. It’s utilized by a variety of industries such as life science technology, banking, M&A, and more.

Virtual data rooms are frequently used in M&A transactions, which is the most frequent application of VDRs. They aid in due diligence, and closing transactions with less risk. This is particularly crucial since M&A is a large volume of documentation and is extremely sensitive.

A VDR can cut down on M&A risk by offering granular permissions for users who have secure spreadsheet viewers as well as other features, such as screen-only mode, screenshot blocking and more. This ensures that only the appropriate people Data room software are able to access and see the data. Security of the infrastructure is also guaranteed with multiple backups and virus scanning.

Financial services companies manage lots of data including contracts and other legal documents to financial data and reports. This makes them an ideal candidate for an VDR as they can securely store documents and share them with other parties quickly.

Investment banks utilize online document sharing tools to facilitate M&A transactions and capital raising. These companies require a VDR with an affordable pricing plan that is flexible and collaboration features that maximize efficiency. For instance an investment bank might need a solution with the ability to upload 5MB per second, SmartLock that allows revoking access to documents even after downloading, integrated redaction, DocuSign integration, and more.