Virtual Data Review

Virtual data review is the process of sharing secure documents with external parties. This can include accountants and lawyers as well as compliance auditors and trusted advisors. It is a common use case for companies engaging in due diligence processes. VDRs are a convenient way to share documents securely in an online environment that facilitates important source collaboration, communication and tracking. They are a perfect solution for sharing information that is critical to business with partners outside of the organization.

VDRs are typically used in M&A procedures, where a lot of confidential information has to be exchanged between the buyer and seller. With features such as watermarks and screen-scraping prevention this kind of software helps to reduce the chance of leaks of confidential information during the negotiation process. With features such as document annotations and FAQ sections, it’s possible to simplify communication, and accelerate the overall transaction timeline.

With built-in analytics reports, reports and version control, it is easy to determine how files are being used and used by both external and internal users. This will give you an insight into which files are getting attention and where collaboration is needed to accelerate the sale.

Many modern VDR providers offer professional customer service through multiple channels, including chat in-app phone, email, and chat with multilingual assistance. Some even have dedicated managers and teams that are committed to helping users with any issue. This level of support is a key differentiator from standard cloud storage solutions.