For companies seeking to make important decisions like M&A transactions, tenders or capital raising, it’s vital that all the relevant information is readily available. That can mean combing through hundreds of thousands of highly private documents that could be susceptible to data breaches, and other security threats. There’s a solution that offers easy access and secure document storage, and collaboration tools. It’s called the virtual data room (VDR).

A VDR is a software for business that allows for the simple, transparent and safe sharing of information within due diligence processes. It’s specifically designed for the M&A as well as private equity and investment advisory sectors, but is a tool that can be used by any business looking to make an important deal or undertake a project. It’s typically a secure cloud repository that stores important documents including financial statements, legal agreements and IP protection documents.

The most effective VDRs have clear structure of folders that make it easy to navigate and find what you’re searching for. They come with customizable security features which allow you to limit access by creating timeouts and auto-expiration. You can also limit printing, viewing and downloading documents and generate reports on document activity.

VDRs are typically hosted in industry-grade data centers that contain physical security measures, such as backups of data offsite, fire suppression, and biometric access control. They also have global accessibility which allows prospective buyers and investors to look over important documents without having to travel to your company’s headquarters or other locations.

https://www.dataroommart.com/can-virtual-data-room-be-used-as-a-cpa-portal/