It’s important to know how a virtual space works whether you’re planning to do an IPO or contemplating an M&A, or selling. VDRs are a vital tool to aid in the process of negotiating deals and offer security, usability and accessibility that traditional collaboration platforms can’t match.
The VDR allows businesses to securely share large amounts of documents in a secure environment with potential buyers, investors and partners. With granular permissions, admins can restrict access and capabilities on a user-by-user basis. This allows you to restrict the ability to print, download and rename files. You can also track user activity down to the page level and maintain an audit trail that is thorough.
You can transfer existing documents into the VDR from storage platforms like Google Drive, One drive and Dropbox. This can save time and ensures that all relevant information is available to the due diligence process. This can help you avoid redundancies or omissions in the process. Digify’s VDR offers a safe way to conduct Q&A sessions during due diligence. This allows for any questions to be addressed quickly and efficiently making the process more efficient and speedier.
It is important to consider the needs of external users and how they wish to interact with the documentation when inviting them to visit the VDR. Some users will require full access to documents, whereas others may only require restricted access. For example, legal counsel might need free access to the company’s corporate records, while page investors may only want to review financial statements, business plans and other documents that are related to the investment.