The Benefits of a Virtual Deal Space

A virtual deal space is an online portal that eliminates the need to send multiple emails or share documents on a drive. Instead, people from the buying committee are able to join a digital meeting with one click to discuss objectives and concerns, consume useful material, and also tag the sales rep if they have questions. Sales reps can accelerate the process of completing deals in the process of negotiating.

You can also simplify the process of reviewing and signing contracts by incorporating a form into your online meeting. This information is then transmitted directly into the CRM system so that your finance department can reconcile commissions more quickly.

Private equity firms often use VDR solutions to manage their M&A contracts and sensitive documents. They can upload documents and collaborate with buyers, investors and other stakeholders with customizable permission settings. With retention and disposal capabilities they can also store their documents securely and comply with regulations like FINRA and SOX.

Real estate firms as well as immovable property developers are other businesses that could benefit from the use of a VDR since they typically have to exchange large quantities of documents with third party. By hosting these critical files in a virtual sales room they can speed up the due diligence process and avoid costly delays. They can also enhance the customer experience by using VDRs to host interactive floorplans and 3D models of buildings. This is a great method to aid buyers in understanding the proposed project and make an informed decision.