In an age where data is king and data is king, it’s no wonder why virtual data rooms are now an essential tool for a lot of businesses. They permit secure and efficient storage and sharing of files among employees and with external parties. VDRs aren’t just for M&A or due diligence. They can be used in a variety of ways. For instance, many companies decide to establish strategic partnerships with other companies as a means to produce new goods or expand into new markets, and these partnerships require the sharing of documents.
As the demand for VDRs increased, vendors were quick to make use of this opportunity to develop solutions to meet this need. VDR providers are today more sophisticated than they were at the beginning. At first, the majority of these solutions had connections to Financial Printing companies: Intralinks, RR Donnelly and Merrills all had their own data room services, and Sterling released iRooms.
The ramp up in acceptance of virtual data rooms accelerated and according to IBISWorld, revenues generated from this category of software reached over $800 million in 2017. While some providers offer a basic platform with no assistance or training for customers, others have dedicated teams on https://laptopnewssite.com/document-filtering-tools-and-automated-redaction-in-data-rooms/ call for customers and provide an complete suite of tools to simplify the M&A process.
One good example is CapLinked. CapLinked allows users to access and manage all the necessary information needed for an transaction from any location and on any device. Its features include being able to create multiple projects, and customize access by granting specific permissions. Add NDAs. Apply watermarks. Add project-specific Q&As. Set up automatic indexing. With CapLinked you can also schedule reports to be sent out to users via email so that they are aware of any changes to the project at any time.