Virtual data review is an approach that involves sharing confidential documents with other parties. This can include lawyers and accountants as well as compliance auditors and trusted advisors. It is a common case for businesses involved in due diligence procedures. VDRs are a convenient way to share documents in a secure manner in an online environment that allows for collaboration, communication and tracking. They are the perfect solution to share important information with partners outside.

VDRs are also often employed in M&A procedures in which a large amount of confidential information is exchanged between buyers and sellers of the deal. This type of software decreases the risk of leakage in the negotiation process by using features such as screen-shot prevention and watermarks. With features like document annotations and FAQ sections, it is possible to streamline communication and speed up the overall timeline of transactions.

It is easy to monitor how files are accessed as well as modified by external and internal users through the built-in reports and analytics. This can provide insight into the types of documents that are additional info attracting attention and where collaboration is needed to make a sale more efficient.

In addition to document management and collaborative features, many modern VDR providers also provide professional customer support through multiple channels including in-app live chat, phone and email with multilingual assistance. Some even have dedicated teams and managers who are committed to assisting users with any issues. This level of support is a key difference from other cloud storage services.