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A virtual dataroom (VDR) can be a web-based repository used to share confidential documents for business. VDRs unlike physical filing cabinets are secured and only authorized users are able to access them. This is useful when companies collaborate on projects and need to share documents without worry of theft or unauthorized access. For instance, contractors involved in building contracts for services or construction often collaborate to exchange contracts and other documents essential for continued business partnerships. These documents can be accessed remotely from the VDR and easily updated by all parties to reflect the most recent changes.

Depending on the requirements of a project, businesses can select from a range of features offered by various VDR providers. Some options include advanced features for managing documents like drag-and drop, auto indexing, automated index numbers as well as fence view, dynamic watermarking and many more. These features allow users to quickly create and keep a folder structure that includes an extensive index of files. Other features include the ability to share folders and files through email or direct link as well as multilingual support and a user interface that can be personalized.

The majority of VDR providers also provide support services that are part of their virtual data rooms. These include training and consultation, as well as an expert support personnel who are available round the clock to answer questions. These extra features can reduce the amount of time as well as the amount of money needed for a project to be completed. They also can cut the overall transaction time by as much as three months due to automated contracts, process standardization and rapid communication between all parties.

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