1 November, 2022

What is A Virtual Data Room?

A Virtual data Room (VDR) is a secure online environment where a company can organize, store, and share documents and data. Examples are company financial records, legal records and briefs, clinical test results, internal reports, and other confidential documents. Once they are organized and stored, these documents are accessed for collaborative projects like internal reviews, due diligence, regulatory submissions, and other critical business activities.

Properly organized, a VDR eliminates the use of physical paperwork and significantly speeds the process of accessing archival records and collaborating with team members, even those who are in remote locations.

At ShareVault, we offer the most secure online environment available for organizing, storing, and collaborating on confidential documents. Here's a bit more detail about a virtual data room:

A Virtual Data Room: What It Is

A Virtual data Room (VDR) is an ultra-secure cloud-based platform that is used to store, organize, and collaborate on important company documents. VDR security is carefully controlled by a company administrator, who sets up the documents file system and authorizes who can access documents and with whom they can be shared. The administrator also oversees a record of every document, by date, name, and activity, which is necessary for internal or regulatory audits.

Uses of a VDR

A company uses a VDR to share confidential information with an internal team working on a project, like a legal brief, a product development program, or Due Diligence in finance. These projects often require a large number of documents and extensive collaboration, not only among project team members but also with outside experts - lawyers, accountants, analysts, and others, who are often in remote locations. Since security is of the utmost importance, the administrator can limit access to specific documents, and end access with a cut-off date.

Here are common uses for VDR:

  • Archiving: Secure storage of confidential documents
  • Project Management: Organization of documents both archival and in active use; administrative oversight of user authorizations and monitoring of a project’s progress
  • Collaboration: An ultra-secure environment for sharing archival documents and generating work-in-progress documents
  • Audit Trail: Comprehensive, real-time tracking of requests, shares, and edits for each document and the ability to generate an audit trail at any time

The VDR platform is used for a number of critical business functions:

VDRs are used in many industries to support different kinds of deals. Compliance managers, executives, analysts, financial teams, and other professionals are highly likely to depend on VDRs. Data rooms serve the needs of these users through functions like:

  • Mergers & Acquisitions due diligence
  • Pharma and Life Sciences product development
  • Litigation preparation
  • Intellectual property management
  • Board meetings
  • Portfolio reviews and reports
  • RFPs and procurement documentation
  • Compliance audits and regulatory reporting

To ensure that the team has a smooth and glitch-free experience in using the VDR, ShareVault provides 24/7 tech support.

Industries That Use VDR

Virtual Data Rooms have become the preferred environment for complex, collaborative projects in a host of industries, including:

  • Pharma and Life Sciences
  • Healthcare
  • Investment Banking
  • M&A and Private Equity firms
  • Law Firms
  • Commercial Real Estate
  • Technology companies
  • Energy, mining, and utilities

Choose an Experienced, Quality VDR Provider

Any company that is using highly confidential information to prepare a report or deal offer needs an ultra-secure environment for storing, sharing, and generating documents. In a world beset by hackers and cyberattacks, to do anything less is to invite financial and competitive loss.

An experienced VDR provider is familiar with your industry and can provide customized solutions that will speed your progress. State-of-the-art VDRs help organize documents, collaborate with team members and outside parties, and securely generate work-in-progress documents and contracts.

ShareVault’s security is backed by multiple certifications. The company has been cited as a preferred provider for multiple industries. We invite your inquiries about a cloud-based VDR platform that delivers bank-grade security, ease of use, and unparalleled functionality