When people think of the online data rooms, they usually imagine a virtual environment which aids in conducting due diligence on mergers and purchases. A data room could also be used to provide confidential information to professionals such as accountants and law firms.

A real estate agent, for example, can use a dataroom to organize files related to property sales. This includes copies of sale agreements and contracts, offers, inspection reports, and photos. A one-stop shop for these documents makes it easier for clients to obtain the information they require and decreases online data room start the amount of back-and forth that can occur via email.

A virtual dataroom is useful for litigation, where it can be a safe and well-organized way to store large quantities of confidential documents. Documents can be viewed in a safe environment and paper trails can be created to prove who made the changes. This can be a significant advantage in court proceedings, where the ability to demonstrate that the change originated from one particular person is vital.

If you’re pitching investors for investment or collaborating with colleagues, a secure online data room is the best solution for sharing and protecting important documents. If you’re looking to learn more about how a digital data room can benefit your organization, schedule an appointment for a PandaDoc demonstration today.