A virtual data room is an online secure storage space for sharing confidential documents with a variety of parties. It is often utilized in M&A transactions as well as regulatory compliance and board communications. It also includes a range of document management tools that help meet the requirements of the industry and improve workflows. Virtual deal space lets users share documents across any device, anywhere and at any time.

This software is typically an open platform for users with 24/7 access for authorized users. It also offers features like access to granular privileges, two-factor authentication as well as time and IP access limitations. It also has collaboration tools that allow users to work in teams on projects. It also supports multiple languages. Additionally, it supports file tagging and other annotations to make review faster.

Mergers and Acquisitions are common business transactions that require a significant amount of documents to reviewed by multiple stakeholders in an extremely short time. Businesses can streamline due diligence and reduce the cost of making an M&A deal by using an online data room.

Manufacturing deals often involve billions of dollars contracts and projects. These high-risk deals require a level confidentiality and efficiency that physical data rooms cannot offer. Manufacturers can easily collaborate on sensitive documents by using an online data room.

The primary reasons to use an Online data room include M&A as well as fundraising, IPOs, and legal proceedings. Participants can share information and give feedback in a strictly controlled environment. Furthermore they can be tailored to the specific needs of a specific deal.