Virtual data rooms blend security and analytics with other features to make a highly effective collaboration tool for any project. It doesn’t matter if it’s fundraising for the startup industry, arranging strategic partnerships, negotiations for M&As or finding a cure for a disease, VDRs make the project more efficient while maintaining confidentiality.

A VDR is an encrypted data repository that lets stakeholders collaborate and review documents and files in a safe and convenient environment. It helps reduce the risk of sensitive information being disclosed by granting granular access to downloading and viewing permissions, and it allows users to restrict the duration of access to documents is granted.

VDRs are ideal for M&A due diligence because they remove the costs of printing, scanning and distributing physical documents. They also cut down on travel expenses because they allow parties to view and edit documents online, regardless of time zone or location.

A VDR such as Firmex offers a variety of features to make complex processes, such as M&A due-diligence, faster and safer. A few of the features to look for include: