Whether you’re working on mergers and acquisitions (M&As), carrying out due diligence processes or fundraising from investors – large-scale business deals bring large-scale, highly sensitive data with them. Multiple stakeholders need to work with that data, without compromising security.
So how do you store that data securely? Enter the virtual data room.
What is a virtual data room?
Picture this: a supercharged secret clubhouse for your confidential files and important documents. This is what a virtual data (VDR) room is like. Think of it as a digital fortress – but way more exciting.
Put simply, a virtual data room is a secure online space where you can bring together all of the people who need access to this data, enabling them to collaborate on top-secret projects and share sensitive information safely.
Your VDR “clubhouse” has everything you need at your fingertips. But, instead of a rope ladder and or zip line, it’s got powerful encryption and advanced access controls.
VDRs have all these high-tech features that make those invited in feel safe among confidential files and documents. VDRs are a feature of DocSend, providing an ideal way to:
- Upload and store your confidential files
- Secure your documents and data
- Organise your data in a systematised way
By using a VDR, you’ll be hanging out with the trusted allies of digital file and document management. It’s the best option for diligence, IPOs and other confidential projects.
It’s a serious thing. These days, digital trust is more important than ever. A survey from McKinsey shows 53% of respondents will only choose a company with a reputation for protecting data.
Trust builds growth, and if you or your business want to work with any kind of sensitive data – you really need to think about using a VDR.
How does a secure virtual data room work?
Because a virtual data room is both secure and online, you can access your VDR anywhere, anytime. Whether you’re in your pyjamas, sipping on a cup of coffee at home or in your favourite coffee shop – the secret clubhouse holding all your precious data is just a few clicks away.
Let’s break down how VDRs do this. It’s typically by utilising the following key features:
- State-of-the-art encryption
- Strict access control
- Versatile permission settings
Oh, and did we mention the collaboration features?
You can leave comments, discuss projects and work on files in real time – all in a secure, dedicated online space.
DocSend blends security, analytics and more in an easy-to-use VDR. Interested? Learn about DocSend’s powerful VDR features.
What is a virtual data room used for?
VDRs have almost limitless uses, from fundraising in a start-up, securing board comms, getting feedback on pitches and much more.
A VDR has all the bells and whistles you need to keep prying eyes out, so naturally they’re good for things like:
- Keeping documents secure, such as for government files and medical records
- Storing documents and files in a central location, like during mergers and other transactions
- Housing large volumes of data for easy access between multiple parties
- Reviewing, finding or tracking documents across devices – without using extra software
- Collaborating efficiently in larger organisations or on complex projects with tons of data
DocSend is a powerful collaboration tool that delivers all of the above, with VDRs just a small part of its incredible performance. You can try it for free to do everything we list above – or more.
Whether it’s new contracts, litigation, IP management, audits for property sales, leasing transactions or a cure for diseases – you and your team can work on it securely in a VDR.
Got a project that could use some privacy?
DocSend lets you increase control and visibility, with document tracking and real-time analytics. It’s secure, accessible and designed to make you and your data feel like rock stars.
- Share securely
- Get real-time document analytics
- Send one-click NDAs
- Request eSignatures
- Create VDRs
- Add watermarks
Don’t just take our word for it though, here’s what others have to say about using DocSend:
With the competition we face, we welcome any and all strategic intel we can get our hands on. I love that I can see when a client spends time with our proposal because it allows me to be more strategic in my role – helping to prioritise my time and ensure I’m focusing on the right deals.