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A virtual data room is normally an online storage space solution that enables companies, advisors, lawyers, buyers and auditors to share paperwork securely and in complete confidence. Its key purpose should be to enable research processes during organization transactions, legal cases and audits.
In past times, when M&A (mergers & acquisitions) were very common, companies would use a physical info room filled up with filing cabinets comprising all their sensitive documents. Often , this info room can be located with the company’s head office or by a lawyer’s office where the documents were maintained and access was only granted to the people with the right credentials.
However , with the progression of technology, a large number of data storage space solutions decided to move away right from physical info rooms and into digital ones. Using this method was made conceivable thanks to enhancements such as Sony’s CD-ROM, which allowed for big storage space and a significant increase in the volume of information stored.
The era of technological progress and the creation of the Internet led to the growth of electronic data rooms being a more secure option to physical data rooms. Moreover, this enabled quicker due diligence staff-uni-marburg.de processes for businesses and organisations the world over.
In order to avoid data loss and unauthorized use of the company’s confidential facts, the best data bedroom providers give a variety of reliability features such as encryption of your data, watermarks on documents and a two-step confirmation system. They also offer flexible pricing plans that enable companies to find a solution that fits their needs.