VDRs, also referred to as electronic data rooms or Virtual Deal Rooms, are online repositories that enable companies to securely exchange documents in any kind of business transaction. They eliminate the requirement for physical documents and make it simple to manage important business information with multiple parties at once. Investment banking processes such as IPOs, capital raising and M&A require massive quantities of information sharing that VDRs assist with.
VDRMs are also useful for C-level executives that need to share confidential documents and information with service providers, potential investors, or any other external entities, HR departments responsible for keeping employee records and any other project managers who are involved in various business processes. The streamlined document sharing and the strict security measures offered by a VDR ensure that sensitive information doesn’t end up in the improper hands.
A typical pricing model is based upon the fixed amount per month or per year of storage space. This is ideal for small-scale projects in which you know how many files you’ll require to keep. This pricing model is best suited for businesses that don’t plan to share large video or audio files.
Other pricing models include flat fees and subscription-based models. Free file-sharing services, such as Google Drive or Dropbox, provide basic security features however, they lack the features of paid VDRs. Specialized paid VDRs, such as iDeals, SecureDocs, and Dealroom offer a variety of security features that make them more suitable for sophisticated document sharing.
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