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What Is Virtual Files (vFiles)?
Virtual Files is a dedicated web site that provides authorised users with access to a secure on-line repository of documents. These documents are stored in an easy-to-read electronic (non printable, including restricting print screen) format on a central server that's accessed via the Internet. Once the deal is completed, vFiles will extract all documents and save it into a DVD/CD. In offline mode, access to the files can be restricted to username / password or by machine (meaning only specific machines can launch and view the documents).
Besides allowing users to upload documents and all the necessary document management capabilities, vFiles allow customers to have discussion forums, annoucements to be created to have a more collaborative environment.
Why Use Virtual Files for Due Diligence?
Speed, scalability, simplicity, flexibility and security: vFiles eliminates the need for buyers, attorneys, accountants and others to travel and meet for extended periods of time just to review paper documents.It allows relevant authorized parties with the appropriate security access to simultaneously review documents while deal managers are able to focus on ensuring the success of the deal.
Benefits of Using vFiles?