Virtual Data Room; a Cloud-Based Solution That Securely Stores & Shares Confidential Business Information

 

Virtual data room (VDR), also known as deal room, is a secure online repository for document storage and distribution. It is used by organizations to store & transfer data virtually. It collects, processes, and offers access to an expansive, real-time cloud-based data repository. Data rooms are used for storing documents, file sharing, securing sensitive documents, and/or conducting financial transactions. Virtual data rooms exist as a secure way to store documents that multiple people need access to simultaneously.

Virtual Data Room are commonly used by businesses when they are merging, working on a project, or other joint venture that requires access to shared data. In most instances, a VDR serves as a staging ground for various transactions before final integration into the cloud-based environment. In many instances, a virtual data room is also utilized to facilitate the due diligence phase of a M&A deal, loan syndication, or other private equity and venture capital deals. Companies use virtual data rooms as a centralized storage area for their company files and data needs.

A data room would allow businesses to organize all of their information, whether it is archived or current, in a secured and accessible manner. VDRs are also a high security online repository of files for instance, intellectual property. They provide companies with offsite, secure location for file sharing. Furthermore, virtual data rooms are a system that enables businesses to share, manage, and secure their corporate files online, also worldwide. A virtual data room has the potential to increase productivity and minimize expenses.

Virtual data room is a host to a multitude of documents and files, all of which contain sensitive corporate data that companies want to keep private. It is an alternative to the paper-based data room, which require parties to be physically present. With more than 90,000 clients around the globe, Intralinks (US) is one of the most trusted virtual data room providers. With Data Room, a software solution, one can store and share high-value content securely across teams, partners, customers, counterparties and regulators.