A virtual information room (VIR) is an electronic repository that allows secure storage and dissemination of documents. VDRs are used for a wide variety of uses, including M&A and due diligence as well as legal documents management, capital raising and real estate transactions as well as regulatory risk management.
For example, when tech companies seek investment it can upload confidential revenue projections, IP ownership documentation and detailed financial records into an online data room which potential investors can access with the right permissions. Investors can access the data quickly and efficiently, taking time and effort away while making sure that the most up-to-date and accurate information is available to make decisions.
VDRs are also a safe and efficient method for private equity funds and firms to share their portfolio data with investors. They can upload quarterly and monthly reports to the VDR. This provides an organization that is efficient and transparency. Investors can easily obtain information, access documents, and monitor activity with an intuitive and interactive user interface.
Modern VDRs offer a safe and scalable platform for document exchange. They also offer advanced AI features that can help companies save significant amounts of time. DFIN’s Venue for instance lets users streamline the process of reviewing contracts by using intelligent redaction, auto-indexing, and automated scanning of phrases or words within scanned documents. Venue’s advanced file level auditory sync, two-way sync and strong encryption can reduce the risk of security breaches and data loss. It also lets companies use one login to manage multiple digital tools across the company with single sign-on, maintain a consistent folder structure and provide reports on data movement and user activity.
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