It is important to understand how a virtual room works whether you’re planning to launch an IPO or contemplating an M&A, or selling. VDRs play an essential role in the deal-making processes and provide security as well as usability and accessibility that traditional collaboration tools cannot match.
The VDR allows businesses to securely share large amounts of documents in a safe environment with potential buyers, investors and partners. Administrators can manage access and capabilities for each user using the ability to grant granular permissions. This allows you to limit the capability to print or download files, as well as rename them. You can also track user activity down to the page level and maintain an audit trail of all activity.
You can import existing documents into the VDR from storage platforms such as Google Drive, One drive and Dropbox. This helps to save time and ensures that all pertinent information is accessible to the due diligence process. This will help you avoid omissions and redundancies in the process. Digify’s VDR also provides a secure and efficient method of conducting Q&A sessions with stakeholders during the due diligence process. This allows for any questions to be answered quickly and efficiently making the process more efficient and speedier.
When inviting other users to view the VDR, it’s important to consider their requirements and how they’d like to work with the document. Some users will require complete access to documents, whereas others may only require limited access. For example, legal counsel might need free access to the company’s corporate records, while investors may only require access to business plans, financial statements and other documents relating to the investment.