VDRs are most commonly used to facilitate M&A processes, but can also be useful for other business activities involving confidential information. For example, venture capitalists often rely on VDRs when reviewing company documents in connection with investing and funding processes. Virtual data review is also a good fit for investment banking processes, such as capital raising and IPOs.
A VDR enables multiple bidders simultaneously to conduct due-diligence, making the entire process much faster. The ability to reach a larger audience of potential buyers will increase the likelihood of a deal being finalized faster than if it were conducted with only a few investors.
A VDR also eliminates the time-consuming and expensive photocopying. It is also possible to access the VDR from anywhere. This can reduce travel costs. VDR vendors like Ellington boast lower upfront costs, and the ability to use the VDR by all bidders simultaneously.
Security is important for any technology system. Look for a platform that offers a fence-view feature to avoid unwanted glances, multi-factor authentication, IP-restricted user access and page-by-page document viewing history. Make sure the solution is SAS 70-compliant and that data in PDF files are encrypted. Check if the vendor offers a variety project templates and customizable branding.
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