https://8dataroom.com/are-virtual-data-rooms-good-for-sustainability/
In the past due diligence was generally carried out by a group consisting of auditors who took over a whole room to look through files after financial documents. The process could go on for several days. With the aid of virtual data rooms due diligence is now much more efficient and speedier.
The best VDR providers provide more than a simple online repository of business data and files. They also offer tools that are designed to meet the needs of different types of transactions. They offer features such as advanced security including audit trails, comments and a powerful search engine and customizable watermarks to protect confidential information from unauthorized access. They also allow you to set up a custom login page and upload your company’s branding so that the program appears more familiar to all who use it.
Apart from that, they offer access reports, which provide the specifics of who accessed each file and when. This lets you keep an eye on who is taking a look and then follow up when necessary. If you discover that a crucial document was missed during the due diligence phase it could be a sign that you should bring it up again or explain it to potential investors more clearly.
The most reliable virtual data room providers for due diligence allows users to grant access with one click to anyone. This eliminates the need for physical presence, and accelerates the process of making decisions, by allowing stakeholders to work from home or wherever else they might be.