A virtual information room (VDR) is an encrypted cloud-based platform for exchanging files and documents. These platforms come equipped with advanced features like streamlined user credentialing, granular access control, customizable permissions, activity tracking and more.
These tools allow organizations to comply with their security requirements for projects, while maintaining the same workflow and guaranteeing data security. VDRs can also include security protocols that are based on industry regulations like GDPR. These protocols help ensure that users only see what they need, preventing data breaches and miscommunications which can delay transactions and cost organizations millions.
Investment banks, private equity firms as well as other financial institutions utilize VDRs for managing large volumes of confidential documents during M&A deals. They can also perform due diligence by using a VDR to share and store documents. They don’t have to risk losing sensitive information or transfer documents to third parties.
VDRs are also utilized extensively by life science firms, including biotechs and pharmaceuticals. To collaborate with partners in clinical trials and R&D these companies need to be able to communicate securely in real-time. They must also be able to meet strict requirements for regulatory compliance, such as HIPAA or ISO. VDRs that have features like zoomable thumbnails and screen-free prevention and the ability to prevent screenshots and watermarks, allow life sciences companies to protect their most sensitive data.
VDRs are also used to raise capital, real estate transactions, and risk management. By connecting VDRs into their workflows they can work on projects in real-time and securely, regardless of where they’re located.
