A virtual data room (VDR) is an online platform that allows document sharing with a variety of users. It is commonly utilized in M&A deals as well as due diligence and other corporate activities. It is also useful in the real estate industry for disclosures and other transactions involving immovable property.
VDRs permit multiple users to access the same data at the same time regardless of the location they’re in. This makes them easier to use than physical data rooms which require all participants to be present at the same time. Some providers provide an app for mobile devices that improves the convenience. In addition, they reduce the expense of photocopying and indexing documents. Some even provide search engines to enable you to find the information you require.
VDRs are the most frequently used for M&A due-diligence. M&A deals require a large amount of documents that comes from both the sell-side as well as potential investors. It is important to ensure that these documents are stored and made accessible to all parties. A VDR allows buyers to quickly access these documents, and it also helps save the seller’s organization on travel and paper costs.
Many VDR vendors offer free trials for potential customers to test their service before committing important link to. This is an excellent method to determine which one is best for your specific project. They also offer 24/7 assistance via chat, phone or email, which means that any concerns or questions can be resolved quickly. iDeals for instance, has a 30-day free trial period and offers training with an expert and a FAQ section with helpful guides.