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VDR for Business is an encrypted platform that allows for the transfer of data online. Its main features are the control of access to data, real-time reporting and efficient handling of large amounts of documents. It also supports a variety of types of files and provides a user-friendly interface. A quality VDR provider can provide a customized virtual repository, with features such as fence view, built-in redaction and a variety of security features that are superior to those offered on file-sharing services or in email.
Due diligence is one of the most common business use of VDR. The process can include hundreds if not thousands of pages and requires meticulous reviews. A VDR is an effective tool for sharing financial information with stakeholders during capital-raising, IPOs, bankruptcy and restructuring processes.
A good business VDR will also allow you to define access rights of users. Users can be granted access to specific folders or documents. This makes the due diligence process more efficient. For instance, auditors may require access to documents that angel investors aren’t and vice versa.
You will save time and money by using a VDR. It will reduce the need for printing papers and sending them to multiple locations for review, which is particularly useful when working with international teams. It will also eliminate the necessity for lengthy conference calls and allow you to share your presentations remotely with employees.
