VDRs can be used in a variety of business processes that require confidential data. Venture capitalists, for example, often use VDRs to review company documents as part of investing and funding processes. Virtual data review is also a good fit for investment banking processes, such as capital raising and IPOs.
A VDR allows multiple bidders to conduct due diligence simultaneously, making the process much faster than a physical meeting would be. By casting a wider net of potential investors, it is more likely that a deal can be finalized quicker than if the process was conducted with a limited number of investors.
A VDR eliminates photocopying costs and time-consuming indexing. It is also possible to access the VDR from anywhere. This can reduce travel costs. photoshop photo editing VDR vendors like Ellington tout lower up-front costs and the fact that they can be used by all bidders at the same time.
As with any technology system, security is paramount for a VDR. Look for a VDR platform that has a fence-view option to prevent unwanted glances, multifactor authentication, IP restricted user access, and a page-by-page history of document viewing. Make sure the solution is SAS 70-compliant and that data in PDF files are encrypted. Check whether the vendor offers customizable branding options and a wide range of project templates.