Virtual Due Diligence Rooms

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Virtual due diligence rooms are cloud-technology-based platforms that facilitate and expedite the deal-making process. By permitting multiple parties to view documents in a centralized online space, they can cut down the time and expense of sharing physical files or sending emails. They are also more secure and efficient than traditional methods of exchange of information.

VDRs are extensively used in a variety of industries from financial services to healthcare. They are particularly useful during M&A capital raising, IPOs, and divestitures. They allow investment and legal companies to store, share and access confidential data easily and securely. Unlike common cloud storage solutions, a virtual due diligence space comes with several additional features that are more than an archive of files.

A key feature is document versioning. This ensures the most recent version of the document is always available. A VDR also protects against printing that is not authorized which could pose a security risk in M&A transactions as well as other transactions that are sensitive. The most recent versions of VDRs include AI features that can boost efficiency and speed up the process of reviewing contracts. DFIN Venue, for example has a variety of automation tools such as auto-indexing, or full-text search.

Knowing which features will assist you in achieving your goals and requirements is vital to select the most suitable VDR. To avoid paying for an application that does not meet your needs, search for a platform with an easy-to-use user interface, as well as built-in support. Also, you can take advantage of trial periods to test how the software performs in action and ensure that it meets your expectations.