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A virtual data room (VDR) is an online repository for storing and sharing business documentation. Cloud-based secure storage solutions enable businesses to share documents with internal and external parties, and to meet compliance and regulatory requirements. They are utilized for M&A strategic review, capital raising and tenders.

VDRs are utilized by businesses in the life and technology science industries, but document management is a necessity for all types of businesses. Administrators can configure granular permissions to control file access in most data rooms. Users can also alter the appearance and functionality of their projects by using branding features, labelling of documents and watermarking. They can work with a variety formats and provide full-text search and indexing features that help allow users to find important information.

When a business decides to choose a VDR provider the company will need to transfer existing documents to the system. This is typically done with an easy drag and drop process which doesn’t require extensive IT expertise. Users can upload large volumes of information in only one click. Reordering features allow users to easily rearrange files and folders once the documents are imported. In addition, many data rooms can be used to monitor which documents are seen and by whom.

VDRs are an affordable alternative to physical storage spaces for documents and traditional methods of meeting. They can reduce rental costs as well as courier fees and travel expenses. They can also reduce the time spent preparing meetings and conducting due diligence, by providing instant access to documents from any location.