VDRs, also referred to as electronic data rooms, also referred to as Virtual Deal Rooms, are online repositories that allow businesses to securely exchange documents for any kind of business transaction. They eliminate the requirement for physical documents and make it easy to manage important business information with multiple parties at once. VDRs are crucial for investments banking processes like IPOs, M&A and capital raising.
VDRMs can also be useful for C-level executives who require sharing sensitive data and files with investors, service providers or other external parties. They can also be used by HR departments that maintain employee records, and project managers who are involved in different business operations. The simple document sharing process and the strict security measures offered by VDRs VDR ensure that sensitive data isn’t smuggled into the wrong hands.
A common pricing model is based on a fixed amount of storage space per month or year that makes it ideal for smaller projects where you know how much documents and data you’ll need to save and access. This pricing model is best http://www.dataroomit.com/free-vdr-common-limits-of-usage/ for companies that do not plan to share large audio or video files.
Other pricing models include flat fees or subscription-based models. Free file-sharing providers, such as Google Drive or Dropbox, offer basic security features, but they are far behind the features of dedicated paid VDRs. Specialized paid VDRs, such as iDeals, SecureDocs, and Dealroom, provide a range of security features that make them more suitable for advanced document sharing.