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Online data room and SSL
Online data rooms are cloud-based solutions designed for the safe storage and sharing of confidential documents. They are often used for due diligence during M&A transactions, but can be utilized by any company that needs a trusted environment to share sensitive documents to selected third-party recipients.
A virtual data room helps make due diligence much more efficient and productive by providing an integrated, shared platform for all parties to access and review documentation. This reduces the amount of time you are spending sifting through emails and other channels of communication in order to find the information you need.
The majority of VDR providers provide a range of security features that are among the best in the industry. This will give you peace of mind knowing that your sensitive documents are safe from hackers and unwanted parties. Two-factor authentication, SSO and granular permissions are the most common features. They can also provide watermarks that appear on each document, no matter if it’s printed, downloaded, or opened. They can also include the user’s IP address, date, time and other information.
VDRs can also be used to create and coordinate guided signatures among multiple stakeholders. This is a significant improvement over the old method of sending multiple copies of a document back and back for signatures which could cause editing conflicts and slow down the deal process. A VDR can assist you in streamlined the collection of digital signatures and accelerate your M&A transactions.