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Why should you use a VDR?
Virtual data rooms are secure cloud storage solutions that house critical documents in a single location. They are a great solution in a range of scenarios such as due diligence investigations, initial public offerings and court proceedings. VDRs could be a better alternative to physical data rooms, since they offer the same security but without the requirement for travel or coordination of meetings.
VDRs were originally created for due diligence and M&As but they’re also ideal for companies that need to share confidential documents quickly, safely and in real-time with other parties. They also helpful resources have features like built-in redactions fence views, fence views, and granular permissions that prevent sensitive information being printed or copied out of the data room.
For startups in particular, raising capital from investors is a crucial element of establishing a business. It is crucial that the appropriate people are able to view the correct documents at the right moment during the long fundraising process. A VDR can help investors understand the value proposition of a company and make a decision on whether or not to go ahead.
Another reason to think about another reason to consider a VDR is that it offers an easier method for board members to review and approve documents for the company rather than having meetings in person or sending documents. If a company’s board members are spread across the country or even across the globe, a VDR makes it easier for them to collaborate and access on project materials.