The most common use case for an online data room is during due diligence for M&A deals. The sell-side requires a secure platform for storing all documents to be reviewed and the buyer's prospective requires only one location to view the documents. A simple, user-friendly VDR will assist you in closing these deals.
Other applications for the VDR include forming strategic partnerships and taking private companies public. These types of projects require a lot of document sharing and collaboration between partners from different time zones and locations. A virtual dataroom facilitates the swift transfer of information that helps speed the process of decision-making as well as allow for smooth communication and collaboration between partners.
There are a number of companies that offer an online data room service. Intralinks Merrill Corp Ansarada and Firmex are some of the most well-known. A lot of these companies offer no-cost trials or a cost-effective plan. They typically charge based on the amount of storage that is used or the time the online data room will be functional. Some law firms that have sophisticated M&A practices provide an online dataroom for their clients.
The most reliable online datarooms feature a simple and intuitive configuration, which is easy to understand by both the CFO and entry-level accountant. They also provide a wide range of deployment options and permit an all-in-one sign-on system for all projects. Some of the best-rated providers allow customized branding for virtual data rooms to reflect a company's image and service terms and have a dedicated support staff available to answer any questions.