It doesn’t matter if it’s due diligence, IPOs or capital raising M&A investment banks usually require huge amounts of information sharing. This is why they are the most common users of virtual data rooms. With the help of a VDR they can structure their data, effectively communicate with internal and external adjusters and regulators, and share information securely.
When selecting a VDR solution, it is important to choose a vendor that is focused on your particular industry. The majority of providers provide a set of features tailored to the needs of each industry, and have a separate section on their website to display testimonials or customer stories. Some also provide free trials to allow you to try their services before committing to the terms of a contract.
VDR solutions like DFIN’s Venue are designed with AI functions that can create significant efficiencies and drive more accuracy into the M&A process. They can automate and streamline workflows, increase compliance and Data Insights reduce rework through speedier review of contracts and other documents. They can also help you automate the tagging of documents and eliminate manual redaction.
Life health and science firms deal with sensitive information, including clinical trial results, HIPAA compliance and patient files. The best VDRs provide a secure environment that allows them to communicate and collaborate with potential investors and business partners. They are able to access documents at any time, and all communication is documented in an audit trail. They can also utilize advanced tools, such as the Chinese wall view only mode, watermarking, and Q&A workflows, to enhance their processes.