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Virtual transaction rooms are databases online that are designed to display sensitive information in high-risk business transactions. They are utilized most often in mergers and acquisitions but they can also be used to aid due diligence procedures and financial audits, legal terms and quit or real estate planning procedures.

When used properly the software platforms make it simple for all parties to review, access and exchange documents during a sale process without having to meet face-toface. There are many software applications and tools that can help companies complete a transaction. However, a virtual dataroom (VDR) provides the best solution for storing and distributing documents across multiple users.

While VDRs are found in all industries, they’re especially useful for companies going through high-risk procedures that require sharing documents. Investment banking procedures such as IPOs capital raising, IPOs and M&A demand massive information sharing and the suitable virtual transaction space will keep all stakeholders connected and productive, without exposing sensitive information.

VDRs are more flexible than traditional transaction rooms with regard to sharing and editing file formats. While the majority of transaction rooms work with PDFs and proprietary file formats VDRs can be seamlessly integrated with productivity apps for businesses like Google Docs. This allows staff to use their favorite applications in a secure virtual workspace.

For real estate agents, this means that they can fill in their standard real estate forms with the relevant information stored in the VDR. This will reduce the number of steps that must be completed and ensures everyone is on the same level throughout the transaction. When combined with a great electronic signature solution that is pre-integrated into the platform, like DocuSign, real estate professionals and deal coordinators are able invite buyers or sellers to review and sign documents in the VDR on virtually any device.

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