Virtual Due Diligence Rooms

Virtual due diligence rooms are cloud-technology-based platforms that facilitate and expedite the deal-making process. In allowing multiple parties examine document management mastery documents at the same time in a central online space, virtual due diligence rooms can cut down the time and cost of sharing physical files. As compared to traditional methods they also provide an secure and efficient method to exchange information.

VDRs are commonly used across a range of sectors from financial services to healthcare. They are particularly beneficial during capital raising, M&As, initial public offerings (IPOs) and divestitures. They allow investment and legal firms to store, share, and access sensitive data easily and safely. A virtual due diligence room is more than just a basic cloud storage solution. It has many additional features.

Document versioning is an important feature. This assures that the most recent version of a document is always accessible to review. A VDR also prevents unauthorized printing which could pose a risk in M&A transactions and other transactions that are sensitive. The latest versions of VDRs also incorporate AI functions that can boost efficiency and speed up the process of reviewing contracts. DFIN Venue, for example offers a variety automated tools like auto-indexing, or full-text search.

The best VDR for due diligence requires knowing which features will best serve your specific goals and needs. To avoid spending money on a product that does not meet your requirements, look for a solution that has an intuitive user interface as well as integrated support services. Use the free trials to test the software and verify that it is able to meet your requirements.