Virtual transaction rooms are online databases that display sensitive information during high-risk transactions. While these systems are often used during mergers and acquisitions, they could also be used to aid due diligence processes such as legal and financial audits, as well as real estate planning or quit procedures.

If used correctly the right way, these platforms allow all parties to view, access and exchange documents during a transaction without having to meet face-toface. There are many software programs and tools that can assist companies in completing a transaction. However a virtual dataroom (VDR) offers the best option for storing and dispersing files among multiple users.

VDRs are used in a variety of industries, but they’re most useful for businesses that need to share documents in high-risk processes. Investment banking procedures like IPOs, M&A and capital raising require a massive amount of information sharing. A suitable virtual transaction space can keep all parties engaged and connected, while not exposing sensitive information.

In contrast to traditional transaction rooms, VDRs offer expanded the ability to share and edit file formats. While most transaction rooms work with PDFs and proprietary file formats, VDRs are easily connected to productivity apps for business such as Google Docs. This allows staff to use their favorite applications within the secure virtual workspace.

For real estate agents, this means that they can fill in their standard real estate forms with the relevant information stored in the VDR. This reduces the number of steps they’ll need to complete and ensures everyone is on the same page throughout the transaction. When paired with an excellent electronic signature solution that is pre-integrated into the platform, such as DocuSign real estate professionals and deal coordinators are able invite buyers or sellers to sign and review documents in the VDR on virtually any device.

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