Last updated on June 26th, 2023 at 01:12 pm
INTRODUCTION
Virtual data rooms (VDR) are needed by most of the companies today for the need of quality data. There are a number of purposes for which companies use data rooms including:
- M&A – VDR are often used during the due diligence stage of M&A as a place to house and share thousands of documents with different teams
- Fundraising – Companies can share confidential company information with prospective investors when raising funds.
- Strategic partnerships – Potential partners can use VDRs to give each other access to important files and data regarding each other (specific permissions can be given)
- Board Communications – Teams can securely communicate within VDRs regarding different aspects of a deal’s lifecycle. (Can securely invite outside users as well)
- Secure files sharing – VDRs are used to securely store unlimited amounts of data like different types of files, documents, videos, presentations etc.
- Consultancy – These rooms help to maintain confidentiality and privacy that are the top priorities of consultancy businesses
- Manufacturing – Manufacturing industries use VDRs to share new designs or product data.
The Confiex team specializes in providing premium virtual data room solutions tailored for businesses. With their vast experience in working with document sharing platforms, they have been actively supporting the Virtual Data Room community since 2015 by offering valuable information to users free of charge.