CINXE.COM

<!DOCTYPE html> <html lang="en-AU"> <head> <meta charset="utf-8"><script type="text/javascript">window.NREUM||(NREUM={});NREUM.info = {"beacon":"bam.nr-data.net","errorBeacon":"bam.nr-data.net","licenseKey":"30bb8e5ecb","applicationID":"371700378","transactionName":"b1AEN0ECWBFWUBBeC1YaKzVwTHIHQ1INWxJRUBEgXA1CEFhfCFIWF3wIB1Yb","queueTime":0,"applicationTime":241,"agent":"","atts":""}</script><script type="text/javascript">(window.NREUM||(NREUM={})).init={ajax:{deny_list:["bam.nr-data.net"]}};(window.NREUM||(NREUM={})).loader_config={xpid:"VQ8GVFRRCRADU1BVBwEEUVw=",licenseKey:"30bb8e5ecb",applicationID:"371700378"};;/*! For license information please see nr-loader-full-1.281.0.min.js.LICENSE.txt */ (()=>{var e,t,r={8122:(e,t,r)=>{"use strict";r.d(t,{a:()=>i});var n=r(944);function i(e,t){try{if(!e||"object"!=typeof e)return(0,n.R)(3);if(!t||"object"!=typeof t)return(0,n.R)(4);const r=Object.create(Object.getPrototypeOf(t),Object.getOwnPropertyDescriptors(t)),o=0===Object.keys(r).length?e:r;for(let a in o)if(void 0!==e[a])try{if(null===e[a]){r[a]=null;continue}Array.isArray(e[a])&&Array.isArray(t[a])?r[a]=Array.from(new Set([...e[a],...t[a]])):"object"==typeof e[a]&&"object"==typeof t[a]?r[a]=i(e[a],t[a]):r[a]=e[a]}catch(e){(0,n.R)(1,e)}return r}catch(e){(0,n.R)(2,e)}}},2555:(e,t,r)=>{"use strict";r.d(t,{Vp:()=>c,fn:()=>s,x1:()=>u});var n=r(384),i=r(8122);const o={beacon:n.NT.beacon,errorBeacon:n.NT.errorBeacon,licenseKey:void 0,applicationID:void 0,sa:void 0,queueTime:void 0,applicationTime:void 0,ttGuid:void 0,user:void 0,account:void 0,product:void 0,extra:void 0,jsAttributes:{},userAttributes:void 0,atts:void 0,transactionName:void 0,tNamePlain:void 0},a={};function s(e){try{const t=c(e);return!!t.licenseKey&&!!t.errorBeacon&&!!t.applicationID}catch(e){return!1}}function c(e){if(!e)throw new Error("All info objects require an agent identifier!");if(!a[e])throw new Error("Info for ".concat(e," was never set"));return a[e]}function u(e,t){if(!e)throw new Error("All info objects require an agent identifier!");a[e]=(0,i.a)(t,o);const r=(0,n.nY)(e);r&&(r.info=a[e])}},9417:(e,t,r)=>{"use strict";r.d(t,{D0:()=>g,gD:()=>m,xN:()=>p});var n=r(3333),i=r(993);const o=e=>{if(!e||"string"!=typeof e)return!1;try{document.createDocumentFragment().querySelector(e)}catch{return!1}return!0};var a=r(2614),s=r(944),c=r(384),u=r(8122);const d="[data-nr-mask]",l=()=>{const e={feature_flags:[],experimental:{marks:!1,measures:!1,resources:!1},mask_selector:"*",block_selector:"[data-nr-block]",mask_input_options:{color:!1,date:!1,"datetime-local":!1,email:!1,month:!1,number:!1,range:!1,search:!1,tel:!1,text:!1,time:!1,url:!1,week:!1,textarea:!1,select:!1,password:!0}};return{ajax:{deny_list:void 0,block_internal:!0,enabled:!0,autoStart:!0},distributed_tracing:{enabled:void 0,exclude_newrelic_header:void 0,cors_use_newrelic_header:void 0,cors_use_tracecontext_headers:void 0,allowed_origins:void 0},get feature_flags(){return e.feature_flags},set feature_flags(t){e.feature_flags=t},generic_events:{enabled:!0,autoStart:!0},harvest:{interval:30},jserrors:{enabled:!0,autoStart:!0},logging:{enabled:!0,autoStart:!0,level:i.p_.INFO},metrics:{enabled:!0,autoStart:!0},obfuscate:void 0,page_action:{enabled:!0},page_view_event:{enabled:!0,autoStart:!0},page_view_timing:{enabled:!0,autoStart:!0},performance:{get capture_marks(){return e.feature_flags.includes(n.$v.MARKS)||e.experimental.marks},set capture_marks(t){e.experimental.marks=t},get capture_measures(){return e.feature_flags.includes(n.$v.MEASURES)||e.experimental.measures},set capture_measures(t){e.experimental.measures=t},capture_detail:!0,resources:{get enabled(){return e.feature_flags.includes(n.$v.RESOURCES)||e.experimental.resources},set enabled(t){e.experimental.resources=t},asset_types:[],first_party_domains:[],ignore_newrelic:!0}},privacy:{cookies_enabled:!0},proxy:{assets:void 0,beacon:void 0},session:{expiresMs:a.wk,inactiveMs:a.BB},session_replay:{autoStart:!0,enabled:!1,preload:!1,sampling_rate:10,error_sampling_rate:100,collect_fonts:!1,inline_images:!1,fix_stylesheets:!0,mask_all_inputs:!0,get mask_text_selector(){return e.mask_selector},set mask_text_selector(t){o(t)?e.mask_selector="".concat(t,",").concat(d):""===t||null===t?e.mask_selector=d:(0,s.R)(5,t)},get block_class(){return"nr-block"},get ignore_class(){return"nr-ignore"},get mask_text_class(){return"nr-mask"},get block_selector(){return e.block_selector},set block_selector(t){o(t)?e.block_selector+=",".concat(t):""!==t&&(0,s.R)(6,t)},get mask_input_options(){return e.mask_input_options},set mask_input_options(t){t&&"object"==typeof t?e.mask_input_options={...t,password:!0}:(0,s.R)(7,t)}},session_trace:{enabled:!0,autoStart:!0},soft_navigations:{enabled:!0,autoStart:!0},spa:{enabled:!0,autoStart:!0},ssl:void 0,user_actions:{enabled:!0,elementAttributes:["id","className","tagName","type"]}}},f={},h="All configuration objects require an agent identifier!";function g(e){if(!e)throw new Error(h);if(!f[e])throw new Error("Configuration for ".concat(e," was never set"));return f[e]}function p(e,t){if(!e)throw new Error(h);f[e]=(0,u.a)(t,l());const r=(0,c.nY)(e);r&&(r.init=f[e])}function m(e,t){if(!e)throw new Error(h);var r=g(e);if(r){for(var n=t.split("."),i=0;i<n.length-1;i++)if("object"!=typeof(r=r[n[i]]))return;r=r[n[n.length-1]]}return r}},5603:(e,t,r)=>{"use strict";r.d(t,{a:()=>c,o:()=>s});var n=r(384),i=r(8122);const o={accountID:void 0,trustKey:void 0,agentID:void 0,licenseKey:void 0,applicationID:void 0,xpid:void 0},a={};function s(e){if(!e)throw new Error("All loader-config objects require an agent identifier!");if(!a[e])throw new Error("LoaderConfig for ".concat(e," was never set"));return a[e]}function c(e,t){if(!e)throw new Error("All loader-config objects require an agent identifier!");a[e]=(0,i.a)(t,o);const r=(0,n.nY)(e);r&&(r.loader_config=a[e])}},3371:(e,t,r)=>{"use strict";r.d(t,{V:()=>f,f:()=>l});var n=r(8122),i=r(384),o=r(6154),a=r(9324);let s=0;const c={buildEnv:a.F3,distMethod:a.Xs,version:a.xv,originTime:o.WN},u={customTransaction:void 0,disabled:!1,isolatedBacklog:!1,loaderType:void 0,maxBytes:3e4,onerror:void 0,ptid:void 0,releaseIds:{},appMetadata:{},session:void 0,denyList:void 0,timeKeeper:void 0,obfuscator:void 0,harvester:void 0},d={};function l(e){if(!e)throw new Error("All runtime objects require an agent identifier!");if(!d[e])throw new Error("Runtime for ".concat(e," was never set"));return d[e]}function f(e,t){if(!e)throw new Error("All runtime objects require an agent identifier!");d[e]={...(0,n.a)(t,u),...c},Object.hasOwnProperty.call(d[e],"harvestCount")||Object.defineProperty(d[e],"harvestCount",{get:()=>++s});const r=(0,i.nY)(e);r&&(r.runtime=d[e])}},9324:(e,t,r)=>{"use strict";r.d(t,{F3:()=>i,Xs:()=>o,Yq:()=>a,xv:()=>n});const n="1.281.0",i="PROD",o="CDN",a="^2.0.0-alpha.17"},6154:(e,t,r)=>{"use strict";r.d(t,{OF:()=>u,RI:()=>i,WN:()=>f,bv:()=>o,gm:()=>a,lR:()=>l,m:()=>c,mw:()=>s,sb:()=>d});var n=r(1863);const i="undefined"!=typeof window&&!!window.document,o="undefined"!=typeof WorkerGlobalScope&&("undefined"!=typeof self&&self instanceof WorkerGlobalScope&&self.navigator instanceof WorkerNavigator||"undefined"!=typeof globalThis&&globalThis instanceof WorkerGlobalScope&&globalThis.navigator instanceof WorkerNavigator),a=i?window:"undefined"!=typeof WorkerGlobalScope&&("undefined"!=typeof self&&self instanceof WorkerGlobalScope&&self||"undefined"!=typeof globalThis&&globalThis instanceof WorkerGlobalScope&&globalThis),s=Boolean("hidden"===a?.document?.visibilityState),c=""+a?.location,u=/iPad|iPhone|iPod/.test(a.navigator?.userAgent),d=u&&"undefined"==typeof SharedWorker,l=(()=>{const e=a.navigator?.userAgent?.match(/Firefox[/\s](\d+\.\d+)/);return Array.isArray(e)&&e.length>=2?+e[1]:0})(),f=Date.now()-(0,n.t)()},7295:(e,t,r)=>{"use strict";r.d(t,{Xv:()=>a,gX:()=>i,iW:()=>o});var n=[];function i(e){if(!e||o(e))return!1;if(0===n.length)return!0;for(var t=0;t<n.length;t++){var r=n[t];if("*"===r.hostname)return!1;if(s(r.hostname,e.hostname)&&c(r.pathname,e.pathname))return!1}return!0}function o(e){return void 0===e.hostname}function a(e){if(n=[],e&&e.length)for(var t=0;t<e.length;t++){let r=e[t];if(!r)continue;0===r.indexOf("http://")?r=r.substring(7):0===r.indexOf("https://")&&(r=r.substring(8));const i=r.indexOf("/");let o,a;i>0?(o=r.substring(0,i),a=r.substring(i)):(o=r,a="");let[s]=o.split(":");n.push({hostname:s,pathname:a})}}function s(e,t){return!(e.length>t.length)&&t.indexOf(e)===t.length-e.length}function c(e,t){return 0===e.indexOf("/")&&(e=e.substring(1)),0===t.indexOf("/")&&(t=t.substring(1)),""===e||e===t}},1687:(e,t,r)=>{"use strict";r.d(t,{Ak:()=>c,Ze:()=>l,x3:()=>u});var n=r(7836),i=r(3606),o=r(860),a=r(2646);const s={};function c(e,t){const r={staged:!1,priority:o.P3[t]||0};d(e),s[e].get(t)||s[e].set(t,r)}function u(e,t){e&&s[e]&&(s[e].get(t)&&s[e].delete(t),h(e,t,!1),s[e].size&&f(e))}function d(e){if(!e)throw new Error("agentIdentifier required");s[e]||(s[e]=new Map)}function l(e="",t="feature",r=!1){if(d(e),!e||!s[e].get(t)||r)return h(e,t);s[e].get(t).staged=!0,f(e)}function f(e){const t=Array.from(s[e]);t.every((([e,t])=>t.staged))&&(t.sort(((e,t)=>e[1].priority-t[1].priority)),t.forEach((([t])=>{s[e].delete(t),h(e,t)})))}function h(e,t,r=!0){const o=e?n.ee.get(e):n.ee,s=i.i.handlers;if(!o.aborted&&o.backlog&&s){if(r){const e=o.backlog[t],r=s[t];if(r){for(let t=0;e&&t<e.length;++t)g(e[t],r);Object.entries(r).forEach((([e,t])=>{Object.values(t||{}).forEach((t=>{t[0]?.on&&t[0]?.context()instanceof a.y&&t[0].on(e,t[1])}))}))}}o.isolatedBacklog||delete s[t],o.backlog[t]=null,o.emit("drain-"+t,[])}}function g(e,t){var r=e[1];Object.values(t[r]||{}).forEach((t=>{var r=e[0];if(t[0]===r){var n=t[1],i=e[3],o=e[2];n.apply(i,o)}}))}},7836:(e,t,r)=>{"use strict";r.d(t,{P:()=>c,ee:()=>u});var n=r(384),i=r(8990),o=r(3371),a=r(2646),s=r(5607);const c="nr@context:".concat(s.W),u=function e(t,r){var n={},s={},d={},l=!1;try{l=16===r.length&&(0,o.f)(r).isolatedBacklog}catch(e){}var f={on:g,addEventListener:g,removeEventListener:function(e,t){var r=n[e];if(!r)return;for(var i=0;i<r.length;i++)r[i]===t&&r.splice(i,1)},emit:function(e,r,n,i,o){!1!==o&&(o=!0);if(u.aborted&&!i)return;t&&o&&t.emit(e,r,n);for(var a=h(n),c=p(e),d=c.length,l=0;l<d;l++)c[l].apply(a,r);var g=v()[s[e]];g&&g.push([f,e,r,a]);return a},get:m,listeners:p,context:h,buffer:function(e,t){const r=v();if(t=t||"feature",f.aborted)return;Object.entries(e||{}).forEach((([e,n])=>{s[n]=t,t in r||(r[t]=[])}))},abort:function(){f._aborted=!0,Object.keys(f.backlog).forEach((e=>{delete f.backlog[e]}))},isBuffering:function(e){return!!v()[s[e]]},debugId:r,backlog:l?{}:t&&"object"==typeof t.backlog?t.backlog:{},isolatedBacklog:l};return Object.defineProperty(f,"aborted",{get:()=>{let e=f._aborted||!1;return e||(t&&(e=t.aborted),e)}}),f;function h(e){return e&&e instanceof a.y?e:e?(0,i.I)(e,c,(()=>new a.y(c))):new a.y(c)}function g(e,t){n[e]=p(e).concat(t)}function p(e){return n[e]||[]}function m(t){return d[t]=d[t]||e(f,t)}function v(){return f.backlog}}(void 0,"globalEE"),d=(0,n.Zm)();d.ee||(d.ee=u)},2646:(e,t,r)=>{"use strict";r.d(t,{y:()=>n});class n{constructor(e){this.contextId=e}}},9908:(e,t,r)=>{"use strict";r.d(t,{d:()=>n,p:()=>i});var n=r(7836).ee.get("handle");function i(e,t,r,i,o){o?(o.buffer([e],i),o.emit(e,t,r)):(n.buffer([e],i),n.emit(e,t,r))}},3606:(e,t,r)=>{"use strict";r.d(t,{i:()=>o});var n=r(9908);o.on=a;var i=o.handlers={};function o(e,t,r,o){a(o||n.d,i,e,t,r)}function a(e,t,r,i,o){o||(o="feature"),e||(e=n.d);var a=t[o]=t[o]||{};(a[r]=a[r]||[]).push([e,i])}},3878:(e,t,r)=>{"use strict";function n(e,t){return{capture:e,passive:!1,signal:t}}function i(e,t,r=!1,i){window.addEventListener(e,t,n(r,i))}function o(e,t,r=!1,i){document.addEventListener(e,t,n(r,i))}r.d(t,{DD:()=>o,jT:()=>n,sp:()=>i})},5607:(e,t,r)=>{"use strict";r.d(t,{W:()=>n});const n=(0,r(9566).bz)()},9566:(e,t,r)=>{"use strict";r.d(t,{LA:()=>s,ZF:()=>c,bz:()=>a,el:()=>u});var n=r(6154);const i="xxxxxxxx-xxxx-4xxx-yxxx-xxxxxxxxxxxx";function o(e,t){return e?15&e[t]:16*Math.random()|0}function a(){const e=n.gm?.crypto||n.gm?.msCrypto;let t,r=0;return e&&e.getRandomValues&&(t=e.getRandomValues(new Uint8Array(30))),i.split("").map((e=>"x"===e?o(t,r++).toString(16):"y"===e?(3&o()|8).toString(16):e)).join("")}function s(e){const t=n.gm?.crypto||n.gm?.msCrypto;let r,i=0;t&&t.getRandomValues&&(r=t.getRandomValues(new Uint8Array(e)));const a=[];for(var s=0;s<e;s++)a.push(o(r,i++).toString(16));return a.join("")}function c(){return s(16)}function u(){return s(32)}},2614:(e,t,r)=>{"use strict";r.d(t,{BB:()=>a,H3:()=>n,g:()=>u,iL:()=>c,tS:()=>s,uh:()=>i,wk:()=>o});const n="NRBA",i="SESSION",o=144e5,a=18e5,s={STARTED:"session-started",PAUSE:"session-pause",RESET:"session-reset",RESUME:"session-resume",UPDATE:"session-update"},c={SAME_TAB:"same-tab",CROSS_TAB:"cross-tab"},u={OFF:0,FULL:1,ERROR:2}},1863:(e,t,r)=>{"use strict";function n(){return Math.floor(performance.now())}r.d(t,{t:()=>n})},7485:(e,t,r)=>{"use strict";r.d(t,{D:()=>i});var n=r(6154);function i(e){if(0===(e||"").indexOf("data:"))return{protocol:"data"};try{const t=new URL(e,location.href),r={port:t.port,hostname:t.hostname,pathname:t.pathname,search:t.search,protocol:t.protocol.slice(0,t.protocol.indexOf(":")),sameOrigin:t.protocol===n.gm?.location?.protocol&&t.host===n.gm?.location?.host};return r.port&&""!==r.port||("http:"===t.protocol&&(r.port="80"),"https:"===t.protocol&&(r.port="443")),r.pathname&&""!==r.pathname?r.pathname.startsWith("/")||(r.pathname="/".concat(r.pathname)):r.pathname="/",r}catch(e){return{}}}},944:(e,t,r)=>{"use strict";function n(e,t){"function"==typeof console.debug&&console.debug("New Relic Warning: https://github.com/newrelic/newrelic-browser-agent/blob/main/docs/warning-codes.md#".concat(e),t)}r.d(t,{R:()=>n})},5284:(e,t,r)=>{"use strict";r.d(t,{t:()=>c,B:()=>s});var n=r(7836),i=r(6154);const o="newrelic";const a=new Set,s={};function c(e,t){const r=n.ee.get(t);s[t]??={},e&&"object"==typeof e&&(a.has(t)||(r.emit("rumresp",[e]),s[t]=e,a.add(t),function(e={}){try{i.gm.dispatchEvent(new CustomEvent(o,{detail:e}))}catch(e){}}({loaded:!0})))}},8990:(e,t,r)=>{"use strict";r.d(t,{I:()=>i});var n=Object.prototype.hasOwnProperty;function i(e,t,r){if(n.call(e,t))return e[t];var i=r();if(Object.defineProperty&&Object.keys)try{return Object.defineProperty(e,t,{value:i,writable:!0,enumerable:!1}),i}catch(e){}return e[t]=i,i}},6389:(e,t,r)=>{"use strict";function n(e,t=500,r={}){const n=r?.leading||!1;let i;return(...r)=>{n&&void 0===i&&(e.apply(this,r),i=setTimeout((()=>{i=clearTimeout(i)}),t)),n||(clearTimeout(i),i=setTimeout((()=>{e.apply(this,r)}),t))}}function i(e){let t=!1;return(...r)=>{t||(t=!0,e.apply(this,r))}}r.d(t,{J:()=>i,s:()=>n})},3304:(e,t,r)=>{"use strict";r.d(t,{A:()=>o});var n=r(7836);const i=()=>{const e=new WeakSet;return(t,r)=>{if("object"==typeof r&&null!==r){if(e.has(r))return;e.add(r)}return r}};function o(e){try{return JSON.stringify(e,i())??""}catch(e){try{n.ee.emit("internal-error",[e])}catch(e){}return""}}},5289:(e,t,r)=>{"use strict";r.d(t,{GG:()=>o,sB:()=>a});var n=r(3878);function i(){return"undefined"==typeof document||"complete"===document.readyState}function o(e,t){if(i())return e();(0,n.sp)("load",e,t)}function a(e){if(i())return e();(0,n.DD)("DOMContentLoaded",e)}},384:(e,t,r)=>{"use strict";r.d(t,{NT:()=>o,US:()=>d,Zm:()=>a,bQ:()=>c,dV:()=>s,nY:()=>u,pV:()=>l});var n=r(6154),i=r(1863);const o={beacon:"bam.nr-data.net",errorBeacon:"bam.nr-data.net"};function a(){return n.gm.NREUM||(n.gm.NREUM={}),void 0===n.gm.newrelic&&(n.gm.newrelic=n.gm.NREUM),n.gm.NREUM}function s(){let e=a();return e.o||(e.o={ST:n.gm.setTimeout,SI:n.gm.setImmediate,CT:n.gm.clearTimeout,XHR:n.gm.XMLHttpRequest,REQ:n.gm.Request,EV:n.gm.Event,PR:n.gm.Promise,MO:n.gm.MutationObserver,FETCH:n.gm.fetch,WS:n.gm.WebSocket}),e}function c(e,t){let r=a();r.initializedAgents??={},t.initializedAt={ms:(0,i.t)(),date:new Date},r.initializedAgents[e]=t}function u(e){let t=a();return t.initializedAgents?.[e]}function d(e,t){a()[e]=t}function l(){return function(){let e=a();const t=e.info||{};e.info={beacon:o.beacon,errorBeacon:o.errorBeacon,...t}}(),function(){let e=a();const t=e.init||{};e.init={...t}}(),s(),function(){let e=a();const t=e.loader_config||{};e.loader_config={...t}}(),a()}},2843:(e,t,r)=>{"use strict";r.d(t,{u:()=>i});var n=r(3878);function i(e,t=!1,r,i){(0,n.DD)("visibilitychange",(function(){if(t)return void("hidden"===document.visibilityState&&e());e(document.visibilityState)}),r,i)}},8139:(e,t,r)=>{"use strict";r.d(t,{u:()=>f});var n=r(7836),i=r(3434),o=r(8990),a=r(6154);const s={},c=a.gm.XMLHttpRequest,u="addEventListener",d="removeEventListener",l="nr@wrapped:".concat(n.P);function f(e){var t=function(e){return(e||n.ee).get("events")}(e);if(s[t.debugId]++)return t;s[t.debugId]=1;var r=(0,i.YM)(t,!0);function f(e){r.inPlace(e,[u,d],"-",g)}function g(e,t){return e[1]}return"getPrototypeOf"in Object&&(a.RI&&h(document,f),c&&h(c.prototype,f),h(a.gm,f)),t.on(u+"-start",(function(e,t){var n=e[1];if(null!==n&&("function"==typeof n||"object"==typeof n)){var i=(0,o.I)(n,l,(function(){var e={object:function(){if("function"!=typeof n.handleEvent)return;return n.handleEvent.apply(n,arguments)},function:n}[typeof n];return e?r(e,"fn-",null,e.name||"anonymous"):n}));this.wrapped=e[1]=i}})),t.on(d+"-start",(function(e){e[1]=this.wrapped||e[1]})),t}function h(e,t,...r){let n=e;for(;"object"==typeof n&&!Object.prototype.hasOwnProperty.call(n,u);)n=Object.getPrototypeOf(n);n&&t(n,...r)}},3434:(e,t,r)=>{"use strict";r.d(t,{Jt:()=>o,YM:()=>c});var n=r(7836),i=r(5607);const o="nr@original:".concat(i.W);var a=Object.prototype.hasOwnProperty,s=!1;function c(e,t){return e||(e=n.ee),r.inPlace=function(e,t,n,i,o){n||(n="");const a="-"===n.charAt(0);for(let s=0;s<t.length;s++){const c=t[s],u=e[c];d(u)||(e[c]=r(u,a?c+n:n,i,c,o))}},r.flag=o,r;function r(t,r,n,s,c){return d(t)?t:(r||(r=""),nrWrapper[o]=t,function(e,t,r){if(Object.defineProperty&&Object.keys)try{return Object.keys(e).forEach((function(r){Object.defineProperty(t,r,{get:function(){return e[r]},set:function(t){return e[r]=t,t}})})),t}catch(e){u([e],r)}for(var n in e)a.call(e,n)&&(t[n]=e[n])}(t,nrWrapper,e),nrWrapper);function nrWrapper(){var o,a,d,l;try{a=this,o=[...arguments],d="function"==typeof n?n(o,a):n||{}}catch(t){u([t,"",[o,a,s],d],e)}i(r+"start",[o,a,s],d,c);try{return l=t.apply(a,o)}catch(e){throw i(r+"err",[o,a,e],d,c),e}finally{i(r+"end",[o,a,l],d,c)}}}function i(r,n,i,o){if(!s||t){var a=s;s=!0;try{e.emit(r,n,i,t,o)}catch(t){u([t,r,n,i],e)}s=a}}}function u(e,t){t||(t=n.ee);try{t.emit("internal-error",e)}catch(e){}}function d(e){return!(e&&"function"==typeof e&&e.apply&&!e[o])}},9300:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.ajax},3333:(e,t,r)=>{"use strict";r.d(t,{$v:()=>u,TZ:()=>n,Zp:()=>i,kd:()=>c,mq:()=>s,nf:()=>a,qN:()=>o});const n=r(860).K7.genericEvents,i=["auxclick","click","copy","keydown","paste","scrollend"],o=["focus","blur"],a=4,s=1e3,c=["PageAction","UserAction","BrowserPerformance"],u={MARKS:"experimental.marks",MEASURES:"experimental.measures",RESOURCES:"experimental.resources"}},6774:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.jserrors},993:(e,t,r)=>{"use strict";r.d(t,{ET:()=>o,TZ:()=>a,p_:()=>i});var n=r(860);const i={ERROR:"ERROR",WARN:"WARN",INFO:"INFO",DEBUG:"DEBUG",TRACE:"TRACE"},o="log",a=n.K7.logging},3785:(e,t,r)=>{"use strict";r.d(t,{R:()=>c,b:()=>u});var n=r(9908),i=r(1863),o=r(860),a=r(3969),s=r(993);function c(e,t,r={},c=s.p_.INFO){(0,n.p)(a.xV,["API/logging/".concat(c.toLowerCase(),"/called")],void 0,o.K7.metrics,e),(0,n.p)(s.ET,[(0,i.t)(),t,r,c],void 0,o.K7.logging,e)}function u(e){return"string"==typeof e&&Object.values(s.p_).some((t=>t===e.toUpperCase().trim()))}},3969:(e,t,r)=>{"use strict";r.d(t,{TZ:()=>n,XG:()=>s,rs:()=>i,xV:()=>a,z_:()=>o});const n=r(860).K7.metrics,i="sm",o="cm",a="storeSupportabilityMetrics",s="storeEventMetrics"},6630:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.pageViewEvent},782:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.pageViewTiming},6344:(e,t,r)=>{"use strict";r.d(t,{BB:()=>d,G4:()=>o,Qb:()=>l,TZ:()=>i,Ug:()=>a,_s:()=>s,bc:()=>u,yP:()=>c});var n=r(2614);const i=r(860).K7.sessionReplay,o={RECORD:"recordReplay",PAUSE:"pauseReplay",REPLAY_RUNNING:"replayRunning",ERROR_DURING_REPLAY:"errorDuringReplay"},a=.12,s={DomContentLoaded:0,Load:1,FullSnapshot:2,IncrementalSnapshot:3,Meta:4,Custom:5},c={[n.g.ERROR]:15e3,[n.g.FULL]:3e5,[n.g.OFF]:0},u={RESET:{message:"Session was reset",sm:"Reset"},IMPORT:{message:"Recorder failed to import",sm:"Import"},TOO_MANY:{message:"429: Too Many Requests",sm:"Too-Many"},TOO_BIG:{message:"Payload was too large",sm:"Too-Big"},CROSS_TAB:{message:"Session Entity was set to OFF on another tab",sm:"Cross-Tab"},ENTITLEMENTS:{message:"Session Replay is not allowed and will not be started",sm:"Entitlement"}},d=5e3,l={API:"api"}},5270:(e,t,r)=>{"use strict";r.d(t,{Aw:()=>c,CT:()=>u,SR:()=>s});var n=r(384),i=r(9417),o=r(7767),a=r(6154);function s(e){return!!(0,n.dV)().o.MO&&(0,o.V)(e)&&!0===(0,i.gD)(e,"session_trace.enabled")}function c(e){return!0===(0,i.gD)(e,"session_replay.preload")&&s(e)}function u(e,t){const r=t.correctAbsoluteTimestamp(e);return{originalTimestamp:e,correctedTimestamp:r,timestampDiff:e-r,originTime:a.WN,correctedOriginTime:t.correctedOriginTime,originTimeDiff:Math.floor(a.WN-t.correctedOriginTime)}}},3738:(e,t,r)=>{"use strict";r.d(t,{He:()=>i,Kp:()=>s,Lc:()=>u,Rz:()=>d,TZ:()=>n,bD:()=>o,d3:()=>a,jx:()=>l,uP:()=>c});const n=r(860).K7.sessionTrace,i="bstResource",o="resource",a="-start",s="-end",c="fn"+a,u="fn"+s,d="pushState",l=1e3},4234:(e,t,r)=>{"use strict";r.d(t,{W:()=>o});var n=r(7836),i=r(1687);class o{constructor(e,t){this.agentIdentifier=e,this.ee=n.ee.get(e),this.featureName=t,this.blocked=!1}deregisterDrain(){(0,i.x3)(this.agentIdentifier,this.featureName)}}},7767:(e,t,r)=>{"use strict";r.d(t,{V:()=>o});var n=r(9417),i=r(6154);const o=e=>i.RI&&!0===(0,n.gD)(e,"privacy.cookies_enabled")},425:(e,t,r)=>{"use strict";r.d(t,{j:()=>j});var n=r(860),i=r(2555),o=r(3371),a=r(9908),s=r(7836),c=r(1687),u=r(5289),d=r(6154),l=r(944),f=r(3969),h=r(384),g=r(6344);const p=["setErrorHandler","finished","addToTrace","addRelease","recordCustomEvent","addPageAction","setCurrentRouteName","setPageViewName","setCustomAttribute","interaction","noticeError","setUserId","setApplicationVersion","start",g.G4.RECORD,g.G4.PAUSE,"log","wrapLogger"],m=["setErrorHandler","finished","addToTrace","addRelease"];var v=r(1863),b=r(2614),y=r(993),R=r(3785),x=r(2646),w=r(3434);const E=new Map;function A(e,t,r,n){if("object"!=typeof t||!t||"string"!=typeof r||!r||"function"!=typeof t[r])return(0,l.R)(29);const i=function(e){return(e||s.ee).get("logger")}(e),o=(0,w.YM)(i),a=new x.y(s.P);a.level=n.level,a.customAttributes=n.customAttributes;const c=t[r]?.[w.Jt]||t[r];return E.set(c,a),o.inPlace(t,[r],"wrap-logger-",(()=>E.get(c))),i}function T(){const e=(0,h.pV)();p.forEach((t=>{e[t]=(...r)=>function(t,...r){let n=[];return Object.values(e.initializedAgents).forEach((e=>{e&&e.api?e.exposed&&e.api[t]&&n.push(e.api[t](...r)):(0,l.R)(38,t)})),n.length>1?n:n[0]}(t,...r)}))}const _={};var S=r(9417),O=r(5603),N=r(5284);const I=e=>{const t=e.startsWith("http");e+="/",r.p=t?e:"https://"+e};let P=!1;function j(e,t={},p,x){let{init:w,info:E,loader_config:j,runtime:C={},exposed:k=!0}=t;C.loaderType=p;const H=(0,h.pV)();E||(w=H.init,E=H.info,j=H.loader_config),(0,S.xN)(e.agentIdentifier,w||{}),(0,O.a)(e.agentIdentifier,j||{}),E.jsAttributes??={},d.bv&&(E.jsAttributes.isWorker=!0),(0,i.x1)(e.agentIdentifier,E);const L=(0,S.D0)(e.agentIdentifier),D=[E.beacon,E.errorBeacon];P||(L.proxy.assets&&(I(L.proxy.assets),D.push(L.proxy.assets)),L.proxy.beacon&&D.push(L.proxy.beacon),T(),(0,h.US)("activatedFeatures",N.B),e.runSoftNavOverSpa&&=!0===L.soft_navigations.enabled&&L.feature_flags.includes("soft_nav")),C.denyList=[...L.ajax.deny_list||[],...L.ajax.block_internal?D:[]],C.ptid=e.agentIdentifier,(0,o.V)(e.agentIdentifier,C),e.ee=s.ee.get(e.agentIdentifier),void 0===e.api&&(e.api=function(e,t,h=!1){t||(0,c.Ak)(e,"api");const p={};var x=s.ee.get(e),w=x.get("tracer");_[e]=b.g.OFF,x.on(g.G4.REPLAY_RUNNING,(t=>{_[e]=t}));var E="api-",T=E+"ixn-";function S(t,r,n,o){const a=(0,i.Vp)(e);return null===r?delete a.jsAttributes[t]:(0,i.x1)(e,{...a,jsAttributes:{...a.jsAttributes,[t]:r}}),I(E,n,!0,o||null===r?"session":void 0)(t,r)}function O(){}p.log=function(e,{customAttributes:t={},level:r=y.p_.INFO}={}){(0,a.p)(f.xV,["API/log/called"],void 0,n.K7.metrics,x),(0,R.R)(x,e,t,r)},p.wrapLogger=(e,t,{customAttributes:r={},level:i=y.p_.INFO}={})=>{(0,a.p)(f.xV,["API/wrapLogger/called"],void 0,n.K7.metrics,x),A(x,e,t,{customAttributes:r,level:i})},m.forEach((e=>{p[e]=I(E,e,!0,"api")})),p.addPageAction=I(E,"addPageAction",!0,n.K7.genericEvents),p.recordCustomEvent=I(E,"recordCustomEvent",!0,n.K7.genericEvents),p.setPageViewName=function(t,r){if("string"==typeof t)return"/"!==t.charAt(0)&&(t="/"+t),(0,o.f)(e).customTransaction=(r||"http://custom.transaction")+t,I(E,"setPageViewName",!0)()},p.setCustomAttribute=function(e,t,r=!1){if("string"==typeof e){if(["string","number","boolean"].includes(typeof t)||null===t)return S(e,t,"setCustomAttribute",r);(0,l.R)(40,typeof t)}else(0,l.R)(39,typeof e)},p.setUserId=function(e){if("string"==typeof e||null===e)return S("enduser.id",e,"setUserId",!0);(0,l.R)(41,typeof e)},p.setApplicationVersion=function(e){if("string"==typeof e||null===e)return S("application.version",e,"setApplicationVersion",!1);(0,l.R)(42,typeof e)},p.start=()=>{try{(0,a.p)(f.xV,["API/start/called"],void 0,n.K7.metrics,x),x.emit("manual-start-all")}catch(e){(0,l.R)(23,e)}},p[g.G4.RECORD]=function(){(0,a.p)(f.xV,["API/recordReplay/called"],void 0,n.K7.metrics,x),(0,a.p)(g.G4.RECORD,[],void 0,n.K7.sessionReplay,x)},p[g.G4.PAUSE]=function(){(0,a.p)(f.xV,["API/pauseReplay/called"],void 0,n.K7.metrics,x),(0,a.p)(g.G4.PAUSE,[],void 0,n.K7.sessionReplay,x)},p.interaction=function(e){return(new O).get("object"==typeof e?e:{})};const N=O.prototype={createTracer:function(e,t){var r={},i=this,o="function"==typeof t;return(0,a.p)(f.xV,["API/createTracer/called"],void 0,n.K7.metrics,x),h||(0,a.p)(T+"tracer",[(0,v.t)(),e,r],i,n.K7.spa,x),function(){if(w.emit((o?"":"no-")+"fn-start",[(0,v.t)(),i,o],r),o)try{return t.apply(this,arguments)}catch(e){const t="string"==typeof e?new Error(e):e;throw w.emit("fn-err",[arguments,this,t],r),t}finally{w.emit("fn-end",[(0,v.t)()],r)}}}};function I(e,t,r,i){return function(){return(0,a.p)(f.xV,["API/"+t+"/called"],void 0,n.K7.metrics,x),i&&(0,a.p)(e+t,[r?(0,v.t)():performance.now(),...arguments],r?null:this,i,x),r?void 0:this}}function P(){r.e(891).then(r.bind(r,8778)).then((({setAPI:t})=>{t(e),(0,c.Ze)(e,"api")})).catch((e=>{(0,l.R)(27,e),x.abort()}))}return["actionText","setName","setAttribute","save","ignore","onEnd","getContext","end","get"].forEach((e=>{N[e]=I(T,e,void 0,h?n.K7.softNav:n.K7.spa)})),p.setCurrentRouteName=h?I(T,"routeName",void 0,n.K7.softNav):I(E,"routeName",!0,n.K7.spa),p.noticeError=function(t,r){"string"==typeof t&&(t=new Error(t)),(0,a.p)(f.xV,["API/noticeError/called"],void 0,n.K7.metrics,x),(0,a.p)("err",[t,(0,v.t)(),!1,r,!!_[e]],void 0,n.K7.jserrors,x)},d.RI?(0,u.GG)((()=>P()),!0):P(),p}(e.agentIdentifier,x,e.runSoftNavOverSpa)),void 0===e.exposed&&(e.exposed=k),P=!0}},8374:(e,t,r)=>{r.nc=(()=>{try{return document?.currentScript?.nonce}catch(e){}return""})()},860:(e,t,r)=>{"use strict";r.d(t,{$J:()=>u,K7:()=>s,P3:()=>c,XX:()=>i,qY:()=>n,v4:()=>a});const n="events",i="jserrors",o="browser/blobs",a="rum",s={ajax:"ajax",genericEvents:"generic_events",jserrors:i,logging:"logging",metrics:"metrics",pageAction:"page_action",pageViewEvent:"page_view_event",pageViewTiming:"page_view_timing",sessionReplay:"session_replay",sessionTrace:"session_trace",softNav:"soft_navigations",spa:"spa"},c={[s.pageViewEvent]:1,[s.pageViewTiming]:2,[s.metrics]:3,[s.jserrors]:4,[s.spa]:5,[s.ajax]:6,[s.sessionTrace]:7,[s.softNav]:8,[s.sessionReplay]:9,[s.logging]:10,[s.genericEvents]:11},u={[s.pageViewEvent]:a,[s.pageViewTiming]:n,[s.ajax]:n,[s.spa]:n,[s.softNav]:n,[s.metrics]:i,[s.jserrors]:i,[s.sessionTrace]:o,[s.sessionReplay]:o,[s.logging]:"browser/logs",[s.genericEvents]:"ins"}}},n={};function i(e){var t=n[e];if(void 0!==t)return t.exports;var o=n[e]={exports:{}};return r[e](o,o.exports,i),o.exports}i.m=r,i.d=(e,t)=>{for(var r in t)i.o(t,r)&&!i.o(e,r)&&Object.defineProperty(e,r,{enumerable:!0,get:t[r]})},i.f={},i.e=e=>Promise.all(Object.keys(i.f).reduce(((t,r)=>(i.f[r](e,t),t)),[])),i.u=e=>({95:"nr-full-compressor",222:"nr-full-recorder",891:"nr-full"}[e]+"-1.281.0.min.js"),i.o=(e,t)=>Object.prototype.hasOwnProperty.call(e,t),e={},t="NRBA-1.281.0.PROD:",i.l=(r,n,o,a)=>{if(e[r])e[r].push(n);else{var s,c;if(void 0!==o)for(var u=document.getElementsByTagName("script"),d=0;d<u.length;d++){var l=u[d];if(l.getAttribute("src")==r||l.getAttribute("data-webpack")==t+o){s=l;break}}if(!s){c=!0;var f={891:"sha512-54Aat8Udm6iAAlMAdj4qB/wPExKn9TKWSsPnD5+K2RMckmHE0cb0CFc0VauDfpPug5wse9qzwDKuwIMa3hX6gw==",222:"sha512-IA751FH/bvhLWl8I5ZELgH0tFQetWKV1G+9qRkPvOrTSv2X2tgItmreKfvrd8zImHp4sIPTnSN0otmgnX7UJXA==",95:"sha512-Rwnn8hCtQVvDGDl0hSpEazVuRDuvlGnJpNuNwuapJ46vDCvUNGBIzCZCrZYygTgVJUjMrfQoMAULb+2gKoTIiQ=="};(s=document.createElement("script")).charset="utf-8",s.timeout=120,i.nc&&s.setAttribute("nonce",i.nc),s.setAttribute("data-webpack",t+o),s.src=r,0!==s.src.indexOf(window.location.origin+"/")&&(s.crossOrigin="anonymous"),f[a]&&(s.integrity=f[a])}e[r]=[n];var h=(t,n)=>{s.onerror=s.onload=null,clearTimeout(g);var i=e[r];if(delete e[r],s.parentNode&&s.parentNode.removeChild(s),i&&i.forEach((e=>e(n))),t)return t(n)},g=setTimeout(h.bind(null,void 0,{type:"timeout",target:s}),12e4);s.onerror=h.bind(null,s.onerror),s.onload=h.bind(null,s.onload),c&&document.head.appendChild(s)}},i.r=e=>{"undefined"!=typeof Symbol&&Symbol.toStringTag&&Object.defineProperty(e,Symbol.toStringTag,{value:"Module"}),Object.defineProperty(e,"__esModule",{value:!0})},i.p="https://js-agent.newrelic.com/",(()=>{var e={85:0,959:0};i.f.j=(t,r)=>{var n=i.o(e,t)?e[t]:void 0;if(0!==n)if(n)r.push(n[2]);else{var o=new Promise(((r,i)=>n=e[t]=[r,i]));r.push(n[2]=o);var a=i.p+i.u(t),s=new Error;i.l(a,(r=>{if(i.o(e,t)&&(0!==(n=e[t])&&(e[t]=void 0),n)){var o=r&&("load"===r.type?"missing":r.type),a=r&&r.target&&r.target.src;s.message="Loading chunk "+t+" failed.\n("+o+": "+a+")",s.name="ChunkLoadError",s.type=o,s.request=a,n[1](s)}}),"chunk-"+t,t)}};var t=(t,r)=>{var n,o,[a,s,c]=r,u=0;if(a.some((t=>0!==e[t]))){for(n in s)i.o(s,n)&&(i.m[n]=s[n]);if(c)c(i)}for(t&&t(r);u<a.length;u++)o=a[u],i.o(e,o)&&e[o]&&e[o][0](),e[o]=0},r=self["webpackChunk:NRBA-1.281.0.PROD"]=self["webpackChunk:NRBA-1.281.0.PROD"]||[];r.forEach(t.bind(null,0)),r.push=t.bind(null,r.push.bind(r))})(),(()=>{"use strict";i(8374);var e=i(944),t=i(6344),r=i(9566);class n{agentIdentifier;constructor(){this.agentIdentifier=(0,r.LA)(16)}#e(t,...r){if("function"==typeof this.api?.[t])return this.api[t](...r);(0,e.R)(35,t)}addPageAction(e,t){return this.#e("addPageAction",e,t)}recordCustomEvent(e,t){return this.#e("recordCustomEvent",e,t)}setPageViewName(e,t){return this.#e("setPageViewName",e,t)}setCustomAttribute(e,t,r){return this.#e("setCustomAttribute",e,t,r)}noticeError(e,t){return this.#e("noticeError",e,t)}setUserId(e){return this.#e("setUserId",e)}setApplicationVersion(e){return this.#e("setApplicationVersion",e)}setErrorHandler(e){return this.#e("setErrorHandler",e)}addRelease(e,t){return this.#e("addRelease",e,t)}log(e,t){return this.#e("log",e,t)}}class o extends n{#e(t,...r){if("function"==typeof this.api?.[t])return this.api[t](...r);(0,e.R)(35,t)}start(){return this.#e("start")}finished(e){return this.#e("finished",e)}recordReplay(){return this.#e(t.G4.RECORD)}pauseReplay(){return this.#e(t.G4.PAUSE)}addToTrace(e){return this.#e("addToTrace",e)}setCurrentRouteName(e){return this.#e("setCurrentRouteName",e)}interaction(){return this.#e("interaction")}wrapLogger(e,t,r){return this.#e("wrapLogger",e,t,r)}}var a=i(860),s=i(9417);const c=Object.values(a.K7);function u(e){const t={};return c.forEach((r=>{t[r]=function(e,t){return!0===(0,s.gD)(t,"".concat(e,".enabled"))}(r,e)})),t}var d=i(425);var l=i(1687),f=i(4234),h=i(5289),g=i(6154),p=i(5270),m=i(7767),v=i(6389);class b extends f.W{constructor(e,t,r=!0){super(e.agentIdentifier,t),this.auto=r,this.abortHandler=void 0,this.featAggregate=void 0,this.onAggregateImported=void 0,!1===e.init[this.featureName].autoStart&&(this.auto=!1),this.auto?(0,l.Ak)(e.agentIdentifier,t):this.ee.on("manual-start-all",(0,v.J)((()=>{(0,l.Ak)(e.agentIdentifier,this.featureName),this.auto=!0,this.importAggregator(e)})))}importAggregator(t,r={}){if(this.featAggregate||!this.auto)return;let n;this.onAggregateImported=new Promise((e=>{n=e}));const o=async()=>{let o;try{if((0,m.V)(this.agentIdentifier)){const{setupAgentSession:e}=await i.e(891).then(i.bind(i,6526));o=e(t)}}catch(t){(0,e.R)(20,t),this.ee.emit("internal-error",[t]),this.featureName===a.K7.sessionReplay&&this.abortHandler?.()}try{if(!this.#t(this.featureName,o))return(0,l.Ze)(this.agentIdentifier,this.featureName),void n(!1);const{lazyFeatureLoader:e}=await i.e(891).then(i.bind(i,6103)),{Aggregate:a}=await e(this.featureName,"aggregate");this.featAggregate=new a(t,r),t.runtime.harvester.initializedAggregates.push(this.featAggregate),n(!0)}catch(t){(0,e.R)(34,t),this.abortHandler?.(),(0,l.Ze)(this.agentIdentifier,this.featureName,!0),n(!1),this.ee&&this.ee.abort()}};g.RI?(0,h.GG)((()=>o()),!0):o()}#t(e,t){switch(e){case a.K7.sessionReplay:return(0,p.SR)(this.agentIdentifier)&&!!t;case a.K7.sessionTrace:return!!t;default:return!0}}}var y=i(6630);class R extends b{static featureName=y.T;constructor(e,t=!0){super(e,y.T,t),this.importAggregator(e)}}var x=i(384);var w=i(9908),E=i(2843),A=i(3878),T=i(782),_=i(1863);class S extends b{static featureName=T.T;constructor(e,t=!0){super(e,T.T,t),g.RI&&((0,E.u)((()=>(0,w.p)("docHidden",[(0,_.t)()],void 0,T.T,this.ee)),!0),(0,A.sp)("pagehide",(()=>(0,w.p)("winPagehide",[(0,_.t)()],void 0,T.T,this.ee))),this.importAggregator(e))}}var O=i(3969);class N extends b{static featureName=O.TZ;constructor(e,t=!0){super(e,O.TZ,t),this.importAggregator(e)}}var I=i(6774),P=i(3304);class j{constructor(e,t,r,n,i){this.name="UncaughtError",this.message="string"==typeof e?e:(0,P.A)(e),this.sourceURL=t,this.line=r,this.column=n,this.__newrelic=i}}function C(e){return L(e)?e:new j(void 0!==e?.message?e.message:e,e?.filename||e?.sourceURL,e?.lineno||e?.line,e?.colno||e?.col,e?.__newrelic)}function k(e){const t="Unhandled Promise Rejection";if(!e?.reason)return;if(L(e.reason))try{return e.reason.message=t+": "+e.reason.message,C(e.reason)}catch(t){return C(e.reason)}const r=C(e.reason);return r.message=t+": "+r?.message,r}function H(e){if(e.error instanceof SyntaxError&&!/:\d+$/.test(e.error.stack?.trim())){const t=new j(e.message,e.filename,e.lineno,e.colno,e.error.__newrelic);return t.name=SyntaxError.name,t}return L(e.error)?e.error:C(e)}function L(e){return e instanceof Error&&!!e.stack}class D extends b{static featureName=I.T;#r=!1;constructor(e,r=!0){super(e,I.T,r);try{this.removeOnAbort=new AbortController}catch(e){}this.ee.on("internal-error",((e,t)=>{this.abortHandler&&(0,w.p)("ierr",[C(e),(0,_.t)(),!0,{},this.#r,t],void 0,this.featureName,this.ee)})),this.ee.on(t.G4.REPLAY_RUNNING,(e=>{this.#r=e})),g.gm.addEventListener("unhandledrejection",(e=>{this.abortHandler&&(0,w.p)("err",[k(e),(0,_.t)(),!1,{unhandledPromiseRejection:1},this.#r],void 0,this.featureName,this.ee)}),(0,A.jT)(!1,this.removeOnAbort?.signal)),g.gm.addEventListener("error",(e=>{this.abortHandler&&(0,w.p)("err",[H(e),(0,_.t)(),!1,{},this.#r],void 0,this.featureName,this.ee)}),(0,A.jT)(!1,this.removeOnAbort?.signal)),this.abortHandler=this.#n,this.importAggregator(e)}#n(){this.removeOnAbort?.abort(),this.abortHandler=void 0}}var M=i(8990);let K=1;const U="nr@id";function V(e){const t=typeof e;return!e||"object"!==t&&"function"!==t?-1:e===g.gm?0:(0,M.I)(e,U,(function(){return K++}))}function G(e){if("string"==typeof e&&e.length)return e.length;if("object"==typeof e){if("undefined"!=typeof ArrayBuffer&&e instanceof ArrayBuffer&&e.byteLength)return e.byteLength;if("undefined"!=typeof Blob&&e instanceof Blob&&e.size)return e.size;if(!("undefined"!=typeof FormData&&e instanceof FormData))try{return(0,P.A)(e).length}catch(e){return}}}var F=i(8139),B=i(7836),W=i(3434);const z={},q=["open","send"];function Z(t){var r=t||B.ee;const n=function(e){return(e||B.ee).get("xhr")}(r);if(void 0===g.gm.XMLHttpRequest)return n;if(z[n.debugId]++)return n;z[n.debugId]=1,(0,F.u)(r);var i=(0,W.YM)(n),o=g.gm.XMLHttpRequest,a=g.gm.MutationObserver,s=g.gm.Promise,c=g.gm.setInterval,u="readystatechange",d=["onload","onerror","onabort","onloadstart","onloadend","onprogress","ontimeout"],l=[],f=g.gm.XMLHttpRequest=function(t){const r=new o(t),a=n.context(r);try{n.emit("new-xhr",[r],a),r.addEventListener(u,(s=a,function(){var e=this;e.readyState>3&&!s.resolved&&(s.resolved=!0,n.emit("xhr-resolved",[],e)),i.inPlace(e,d,"fn-",y)}),(0,A.jT)(!1))}catch(t){(0,e.R)(15,t);try{n.emit("internal-error",[t])}catch(e){}}var s;return r};function h(e,t){i.inPlace(t,["onreadystatechange"],"fn-",y)}if(function(e,t){for(var r in e)t[r]=e[r]}(o,f),f.prototype=o.prototype,i.inPlace(f.prototype,q,"-xhr-",y),n.on("send-xhr-start",(function(e,t){h(e,t),function(e){l.push(e),a&&(p?p.then(b):c?c(b):(m=-m,v.data=m))}(t)})),n.on("open-xhr-start",h),a){var p=s&&s.resolve();if(!c&&!s){var m=1,v=document.createTextNode(m);new a(b).observe(v,{characterData:!0})}}else r.on("fn-end",(function(e){e[0]&&e[0].type===u||b()}));function b(){for(var e=0;e<l.length;e++)h(0,l[e]);l.length&&(l=[])}function y(e,t){return t}return n}var Y="fetch-",X=Y+"body-",J=["arrayBuffer","blob","json","text","formData"],Q=g.gm.Request,ee=g.gm.Response,te="prototype";const re={};function ne(e){const t=function(e){return(e||B.ee).get("fetch")}(e);if(!(Q&&ee&&g.gm.fetch))return t;if(re[t.debugId]++)return t;function r(e,r,n){var i=e[r];"function"==typeof i&&(e[r]=function(){var e,r=[...arguments],o={};t.emit(n+"before-start",[r],o),o[B.P]&&o[B.P].dt&&(e=o[B.P].dt);var a=i.apply(this,r);return t.emit(n+"start",[r,e],a),a.then((function(e){return t.emit(n+"end",[null,e],a),e}),(function(e){throw t.emit(n+"end",[e],a),e}))})}return re[t.debugId]=1,J.forEach((e=>{r(Q[te],e,X),r(ee[te],e,X)})),r(g.gm,"fetch",Y),t.on(Y+"end",(function(e,r){var n=this;if(r){var i=r.headers.get("content-length");null!==i&&(n.rxSize=i),t.emit(Y+"done",[null,r],n)}else t.emit(Y+"done",[e],n)})),t}var ie=i(7485),oe=i(5603);class ae{constructor(e){this.agentIdentifier=e}generateTracePayload(e){if(!this.shouldGenerateTrace(e))return null;var t=(0,oe.o)(this.agentIdentifier);if(!t)return null;var n=(t.accountID||"").toString()||null,i=(t.agentID||"").toString()||null,o=(t.trustKey||"").toString()||null;if(!n||!i)return null;var a=(0,r.ZF)(),s=(0,r.el)(),c=Date.now(),u={spanId:a,traceId:s,timestamp:c};return(e.sameOrigin||this.isAllowedOrigin(e)&&this.useTraceContextHeadersForCors())&&(u.traceContextParentHeader=this.generateTraceContextParentHeader(a,s),u.traceContextStateHeader=this.generateTraceContextStateHeader(a,c,n,i,o)),(e.sameOrigin&&!this.excludeNewrelicHeader()||!e.sameOrigin&&this.isAllowedOrigin(e)&&this.useNewrelicHeaderForCors())&&(u.newrelicHeader=this.generateTraceHeader(a,s,c,n,i,o)),u}generateTraceContextParentHeader(e,t){return"00-"+t+"-"+e+"-01"}generateTraceContextStateHeader(e,t,r,n,i){return i+"@nr=0-1-"+r+"-"+n+"-"+e+"----"+t}generateTraceHeader(e,t,r,n,i,o){if(!("function"==typeof g.gm?.btoa))return null;var a={v:[0,1],d:{ty:"Browser",ac:n,ap:i,id:e,tr:t,ti:r}};return o&&n!==o&&(a.d.tk=o),btoa((0,P.A)(a))}shouldGenerateTrace(e){return this.isDtEnabled()&&this.isAllowedOrigin(e)}isAllowedOrigin(e){var t=!1,r={};if((0,s.gD)(this.agentIdentifier,"distributed_tracing")&&(r=(0,s.D0)(this.agentIdentifier).distributed_tracing),e.sameOrigin)t=!0;else if(r.allowed_origins instanceof Array)for(var n=0;n<r.allowed_origins.length;n++){var i=(0,ie.D)(r.allowed_origins[n]);if(e.hostname===i.hostname&&e.protocol===i.protocol&&e.port===i.port){t=!0;break}}return t}isDtEnabled(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!!e.enabled}excludeNewrelicHeader(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!!e.exclude_newrelic_header}useNewrelicHeaderForCors(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!1!==e.cors_use_newrelic_header}useTraceContextHeadersForCors(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!!e.cors_use_tracecontext_headers}}var se=i(9300),ce=i(7295),ue=["load","error","abort","timeout"],de=ue.length,le=(0,x.dV)().o.REQ,fe=(0,x.dV)().o.XHR;class he extends b{static featureName=se.T;constructor(e,t=!0){super(e,se.T,t),this.dt=new ae(e.agentIdentifier),this.handler=(e,t,r,n)=>(0,w.p)(e,t,r,n,this.ee);try{const e={xmlhttprequest:"xhr",fetch:"fetch",beacon:"beacon"};g.gm?.performance?.getEntriesByType("resource").forEach((t=>{if(t.initiatorType in e&&0!==t.responseStatus){const r={status:t.responseStatus},n={rxSize:t.transferSize,duration:Math.floor(t.duration),cbTime:0};ge(r,t.name),this.handler("xhr",[r,n,t.startTime,t.responseEnd,e[t.initiatorType]],void 0,a.K7.ajax)}}))}catch(e){}ne(this.ee),Z(this.ee),function(e,t,r,n){function i(e){var t=this;t.totalCbs=0,t.called=0,t.cbTime=0,t.end=x,t.ended=!1,t.xhrGuids={},t.lastSize=null,t.loadCaptureCalled=!1,t.params=this.params||{},t.metrics=this.metrics||{},e.addEventListener("load",(function(r){E(t,e)}),(0,A.jT)(!1)),g.lR||e.addEventListener("progress",(function(e){t.lastSize=e.loaded}),(0,A.jT)(!1))}function o(e){this.params={method:e[0]},ge(this,e[1]),this.metrics={}}function s(t,r){e.loader_config.xpid&&this.sameOrigin&&r.setRequestHeader("X-NewRelic-ID",e.loader_config.xpid);var i=n.generateTracePayload(this.parsedOrigin);if(i){var o=!1;i.newrelicHeader&&(r.setRequestHeader("newrelic",i.newrelicHeader),o=!0),i.traceContextParentHeader&&(r.setRequestHeader("traceparent",i.traceContextParentHeader),i.traceContextStateHeader&&r.setRequestHeader("tracestate",i.traceContextStateHeader),o=!0),o&&(this.dt=i)}}function c(e,r){var n=this.metrics,i=e[0],o=this;if(n&&i){var a=G(i);a&&(n.txSize=a)}this.startTime=(0,_.t)(),this.body=i,this.listener=function(e){try{"abort"!==e.type||o.loadCaptureCalled||(o.params.aborted=!0),("load"!==e.type||o.called===o.totalCbs&&(o.onloadCalled||"function"!=typeof r.onload)&&"function"==typeof o.end)&&o.end(r)}catch(e){try{t.emit("internal-error",[e])}catch(e){}}};for(var s=0;s<de;s++)r.addEventListener(ue[s],this.listener,(0,A.jT)(!1))}function u(e,t,r){this.cbTime+=e,t?this.onloadCalled=!0:this.called+=1,this.called!==this.totalCbs||!this.onloadCalled&&"function"==typeof r.onload||"function"!=typeof this.end||this.end(r)}function d(e,t){var r=""+V(e)+!!t;this.xhrGuids&&!this.xhrGuids[r]&&(this.xhrGuids[r]=!0,this.totalCbs+=1)}function l(e,t){var r=""+V(e)+!!t;this.xhrGuids&&this.xhrGuids[r]&&(delete this.xhrGuids[r],this.totalCbs-=1)}function f(){this.endTime=(0,_.t)()}function h(e,r){r instanceof fe&&"load"===e[0]&&t.emit("xhr-load-added",[e[1],e[2]],r)}function p(e,r){r instanceof fe&&"load"===e[0]&&t.emit("xhr-load-removed",[e[1],e[2]],r)}function m(e,t,r){t instanceof fe&&("onload"===r&&(this.onload=!0),("load"===(e[0]&&e[0].type)||this.onload)&&(this.xhrCbStart=(0,_.t)()))}function v(e,r){this.xhrCbStart&&t.emit("xhr-cb-time",[(0,_.t)()-this.xhrCbStart,this.onload,r],r)}function b(e){var t,r=e[1]||{};if("string"==typeof e[0]?0===(t=e[0]).length&&g.RI&&(t=""+g.gm.location.href):e[0]&&e[0].url?t=e[0].url:g.gm?.URL&&e[0]&&e[0]instanceof URL?t=e[0].href:"function"==typeof e[0].toString&&(t=e[0].toString()),"string"==typeof t&&0!==t.length){t&&(this.parsedOrigin=(0,ie.D)(t),this.sameOrigin=this.parsedOrigin.sameOrigin);var i=n.generateTracePayload(this.parsedOrigin);if(i&&(i.newrelicHeader||i.traceContextParentHeader))if(e[0]&&e[0].headers)s(e[0].headers,i)&&(this.dt=i);else{var o={};for(var a in r)o[a]=r[a];o.headers=new Headers(r.headers||{}),s(o.headers,i)&&(this.dt=i),e.length>1?e[1]=o:e.push(o)}}function s(e,t){var r=!1;return t.newrelicHeader&&(e.set("newrelic",t.newrelicHeader),r=!0),t.traceContextParentHeader&&(e.set("traceparent",t.traceContextParentHeader),t.traceContextStateHeader&&e.set("tracestate",t.traceContextStateHeader),r=!0),r}}function y(e,t){this.params={},this.metrics={},this.startTime=(0,_.t)(),this.dt=t,e.length>=1&&(this.target=e[0]),e.length>=2&&(this.opts=e[1]);var r,n=this.opts||{},i=this.target;"string"==typeof i?r=i:"object"==typeof i&&i instanceof le?r=i.url:g.gm?.URL&&"object"==typeof i&&i instanceof URL&&(r=i.href),ge(this,r);var o=(""+(i&&i instanceof le&&i.method||n.method||"GET")).toUpperCase();this.params.method=o,this.body=n.body,this.txSize=G(n.body)||0}function R(e,t){if(this.endTime=(0,_.t)(),this.params||(this.params={}),(0,ce.iW)(this.params))return;let n;this.params.status=t?t.status:0,"string"==typeof this.rxSize&&this.rxSize.length>0&&(n=+this.rxSize);const i={txSize:this.txSize,rxSize:n,duration:(0,_.t)()-this.startTime};r("xhr",[this.params,i,this.startTime,this.endTime,"fetch"],this,a.K7.ajax)}function x(e){const t=this.params,n=this.metrics;if(!this.ended){this.ended=!0;for(let t=0;t<de;t++)e.removeEventListener(ue[t],this.listener,!1);t.aborted||(0,ce.iW)(t)||(n.duration=(0,_.t)()-this.startTime,this.loadCaptureCalled||4!==e.readyState?null==t.status&&(t.status=0):E(this,e),n.cbTime=this.cbTime,r("xhr",[t,n,this.startTime,this.endTime,"xhr"],this,a.K7.ajax))}}function E(e,r){e.params.status=r.status;var n=function(e,t){var r=e.responseType;return"json"===r&&null!==t?t:"arraybuffer"===r||"blob"===r||"json"===r?G(e.response):"text"===r||""===r||void 0===r?G(e.responseText):void 0}(r,e.lastSize);if(n&&(e.metrics.rxSize=n),e.sameOrigin){var i=r.getResponseHeader("X-NewRelic-App-Data");i&&((0,w.p)(O.rs,["Ajax/CrossApplicationTracing/Header/Seen"],void 0,a.K7.metrics,t),e.params.cat=i.split(", ").pop())}e.loadCaptureCalled=!0}t.on("new-xhr",i),t.on("open-xhr-start",o),t.on("open-xhr-end",s),t.on("send-xhr-start",c),t.on("xhr-cb-time",u),t.on("xhr-load-added",d),t.on("xhr-load-removed",l),t.on("xhr-resolved",f),t.on("addEventListener-end",h),t.on("removeEventListener-end",p),t.on("fn-end",v),t.on("fetch-before-start",b),t.on("fetch-start",y),t.on("fn-start",m),t.on("fetch-done",R)}(e,this.ee,this.handler,this.dt),this.importAggregator(e)}}function ge(e,t){var r=(0,ie.D)(t),n=e.params||e;n.hostname=r.hostname,n.port=r.port,n.protocol=r.protocol,n.host=r.hostname+":"+r.port,n.pathname=r.pathname,e.parsedOrigin=r,e.sameOrigin=r.sameOrigin}const pe={},me=["pushState","replaceState"];function ve(e){const t=function(e){return(e||B.ee).get("history")}(e);return!g.RI||pe[t.debugId]++||(pe[t.debugId]=1,(0,W.YM)(t).inPlace(window.history,me,"-")),t}var be=i(3738);const{He:ye,bD:Re,d3:xe,Kp:we,TZ:Ee,Lc:Ae,uP:Te,Rz:_e}=be;class Se extends b{static featureName=Ee;constructor(e,t=!0){super(e,Ee,t);if(!(0,m.V)(this.agentIdentifier))return void this.deregisterDrain();const r=this.ee;let n;ve(r),this.eventsEE=(0,F.u)(r),this.eventsEE.on(Te,(function(e,t){this.bstStart=(0,_.t)()})),this.eventsEE.on(Ae,(function(e,t){(0,w.p)("bst",[e[0],t,this.bstStart,(0,_.t)()],void 0,a.K7.sessionTrace,r)})),r.on(_e+xe,(function(e){this.time=(0,_.t)(),this.startPath=location.pathname+location.hash})),r.on(_e+we,(function(e){(0,w.p)("bstHist",[location.pathname+location.hash,this.startPath,this.time],void 0,a.K7.sessionTrace,r)}));try{n=new PerformanceObserver((e=>{const t=e.getEntries();(0,w.p)(ye,[t],void 0,a.K7.sessionTrace,r)})),n.observe({type:Re,buffered:!0})}catch(e){}this.importAggregator(e,{resourceObserver:n})}}var Oe=i(2614);class Ne extends b{static featureName=t.TZ;#i;#o;constructor(e,r=!0){let n;super(e,t.TZ,r),this.replayRunning=!1,this.#o=e;try{n=JSON.parse(localStorage.getItem("".concat(Oe.H3,"_").concat(Oe.uh)))}catch(e){}(0,p.SR)(e.agentIdentifier)&&this.ee.on(t.G4.RECORD,(()=>this.#a())),this.#s(n)?(this.#i=n?.sessionReplayMode,this.#c()):this.importAggregator(e),this.ee.on("err",(e=>{this.replayRunning&&(this.errorNoticed=!0,(0,w.p)(t.G4.ERROR_DURING_REPLAY,[e],void 0,this.featureName,this.ee))})),this.ee.on(t.G4.REPLAY_RUNNING,(e=>{this.replayRunning=e}))}#s(e){return e&&(e.sessionReplayMode===Oe.g.FULL||e.sessionReplayMode===Oe.g.ERROR)||(0,p.Aw)(this.agentIdentifier)}#u=!1;async#c(e){if(!this.#u){this.#u=!0;try{const{Recorder:t}=await Promise.all([i.e(891),i.e(222)]).then(i.bind(i,8589));this.recorder??=new t({mode:this.#i,agentIdentifier:this.agentIdentifier,trigger:e,ee:this.ee,agentRef:this.#o}),this.recorder.startRecording(),this.abortHandler=this.recorder.stopRecording}catch(e){}this.importAggregator(this.#o,{recorder:this.recorder,errorNoticed:this.errorNoticed})}}#a(){this.featAggregate?this.featAggregate.mode!==Oe.g.FULL&&this.featAggregate.initializeRecording(Oe.g.FULL,!0):(this.#i=Oe.g.FULL,this.#c(t.Qb.API),this.recorder&&this.recorder.parent.mode!==Oe.g.FULL&&(this.recorder.parent.mode=Oe.g.FULL,this.recorder.stopRecording(),this.recorder.startRecording(),this.abortHandler=this.recorder.stopRecording))}}var Ie=i(3333);class Pe extends b{static featureName=Ie.TZ;constructor(e,t=!0){super(e,Ie.TZ,t);const r=[e.init.page_action.enabled,e.init.performance.capture_marks,e.init.performance.capture_measures,e.init.user_actions.enabled,e.init.performance.resources.enabled];if(g.RI&&(e.init.user_actions.enabled&&(Ie.Zp.forEach((e=>(0,A.sp)(e,(e=>(0,w.p)("ua",[e],void 0,this.featureName,this.ee)),!0))),Ie.qN.forEach((e=>{const t=(0,v.s)((e=>{(0,w.p)("ua",[e],void 0,this.featureName,this.ee)}),500,{leading:!0});(0,A.sp)(e,t)}))),e.init.performance.resources.enabled&&g.gm.PerformanceObserver?.supportedEntryTypes.includes("resource"))){new PerformanceObserver((e=>{e.getEntries().forEach((e=>{(0,w.p)("browserPerformance.resource",[e],void 0,this.featureName,this.ee)}))})).observe({type:"resource",buffered:!0})}r.some((e=>e))?this.importAggregator(e):this.deregisterDrain()}}var je=i(993),Ce=i(3785);class ke extends b{static featureName=je.TZ;constructor(e,t=!0){super(e,je.TZ,t);const r=this.ee;this.ee.on("wrap-logger-end",(function([e]){const{level:t,customAttributes:n}=this;(0,Ce.R)(r,e,n,t)})),this.importAggregator(e)}}new class extends o{constructor(t){super(),g.gm?(this.features={},(0,x.bQ)(this.agentIdentifier,this),this.desiredFeatures=new Set(t.features||[]),this.desiredFeatures.add(R),this.runSoftNavOverSpa=[...this.desiredFeatures].some((e=>e.featureName===a.K7.softNav)),(0,d.j)(this,t,t.loaderType||"agent"),this.run()):(0,e.R)(21)}get config(){return{info:this.info,init:this.init,loader_config:this.loader_config,runtime:this.runtime}}run(){try{const t=u(this.agentIdentifier),r=[...this.desiredFeatures];r.sort(((e,t)=>a.P3[e.featureName]-a.P3[t.featureName])),r.forEach((r=>{if(!t[r.featureName]&&r.featureName!==a.K7.pageViewEvent)return;if(this.runSoftNavOverSpa&&r.featureName===a.K7.spa)return;if(!this.runSoftNavOverSpa&&r.featureName===a.K7.softNav)return;const n=function(e){switch(e){case a.K7.ajax:return[a.K7.jserrors];case a.K7.sessionTrace:return[a.K7.ajax,a.K7.pageViewEvent];case a.K7.sessionReplay:return[a.K7.sessionTrace];case a.K7.pageViewTiming:return[a.K7.pageViewEvent];default:return[]}}(r.featureName).filter((e=>!(e in this.features)));n.length>0&&(0,e.R)(36,{targetFeature:r.featureName,missingDependencies:n}),this.features[r.featureName]=new r(this)}))}catch(t){(0,e.R)(22,t);for(const e in this.features)this.features[e].abortHandler?.();const r=(0,x.Zm)();delete r.initializedAgents[this.agentIdentifier]?.api,delete r.initializedAgents[this.agentIdentifier]?.features,delete this.sharedAggregator;return r.ee.get(this.agentIdentifier).abort(),!1}}}({features:[R,S,Se,Ne,he,N,D,Pe,ke],loaderType:"pro"})})()})();</script> <meta name="viewport" content="width=device-width, initial-scale=1"> <title>Virtual Data Rooms - Ultimate Guide, Uses, Features & More | Ansarada</title> <link rel="stylesheet" href="/Content/mace/client-styles.css?v=638753730221439859"> <link rel="stylesheet" href="//unpkg.com/swiper@8/swiper-bundle.min.css" integrity="sha256-gu8gDs4B6EsDh6OU3XhLk+Gmd/iy7+2da3n2HTCEEho=" crossorigin="anonymous"/> <link rel="stylesheet" href="/Content/style/devotion.css?v=638753730232533704"> <meta name="description" content="What are Virtual Data Rooms and how does Ansarada differ from other providers? Find out how to complete your next deal smarter, faster &amp; easier."> <link rel="canonical" href="https://www.ansarada.com/virtual-data-rooms"> <meta property="og:locale" content="en-AU"> <meta property="og:type" content="website"> <meta property="og:title" content="Virtual Data Rooms - Ultimate Guide, Uses, Features & More | Ansarada"> <meta property="og:description" content="What are Virtual Data Rooms and how does Ansarada differ from other providers? Find out how to complete your next deal smarter, faster & easier."> <meta property="og:url" content="https://www.ansarada.com/virtual-data-rooms"> <meta property="og:site_name" content="ansarada"> <meta name="twitter:card" content="summary"> <meta name="twitter:description" content="What are Virtual Data Rooms and how does Ansarada differ from other providers? Find out how to complete your next deal smarter, faster &amp; easier."> <meta name="twitter:title" content="Virtual Data Rooms - Ultimate Guide, Uses, Features &amp; More | Ansarada"> <script> (function () { var a = window.mutiny = window.mutiny || {}; if (!window.mutiny.client) { a.client = { _queue: {} }; var b = ["identify", "trackConversion"]; var c = [].concat(b, ["defaultOptOut", "optOut", "optIn"]); var d = function factory(c) { return function () { for (var d = arguments.length, e = new Array(d), f = 0; f < d; f++) { e[f] = arguments[f] } a.client._queue[c] = a.client._queue[c] || []; if (b.includes(c)) { return new Promise(function (b, d) { a.client._queue[c].push({ args: e, resolve: b, reject: d }); setTimeout(d, 500) }) } else { a.client._queue[c].push({ args: e }) } } }; c.forEach(function (b) { a.client[b] = d(b) }) } })(); </script> <script>window.mutiny.client.defaultOptOut();</script> <script src="https://client-registry.mutinycdn.com/personalize/client/d820de16a866d23c.js"></script>  <script defer>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-P6WB9R');</script>  <script> !function(){var analytics=window.analytics=window.analytics||[];if(!analytics.initialize)if(analytics.invoked)window.console&&console.error&&console.error("Segment snippet included twice.");else{analytics.invoked=!0;analytics.methods=["trackSubmit","trackClick","trackLink","trackForm","pageview","identify","reset","group","track","ready","alias","debug","page","once","off","on","addSourceMiddleware","addIntegrationMiddleware","setAnonymousId","addDestinationMiddleware"];analytics.factory=function(e){return function(){var t=Array.prototype.slice.call(arguments);t.unshift(e);analytics.push(t);return analytics}};for(var e=0;e<analytics.methods.length;e++){var key=analytics.methods[e];analytics[key]=analytics.factory(key)}analytics.load=function(key,e){var t=document.createElement("script");t.type="text/javascript";t.async=!0;t.src="https://cdn.segment.com/analytics.js/v1/" + key + "/analytics.min.js";var n=document.getElementsByTagName("script")[0];n.parentNode.insertBefore(t,n);analytics._loadOptions=e};analytics._writeKey="kDB17o2YFWrQ7nlRFuzHeHCgYdUQqlTZ";;analytics.SNIPPET_VERSION="4.15.3"; window.getCookie = function(cname) { var name = cname + "="; var ca = document.cookie.split(';'); for(var i = 0; i < ca.length; i++) { var c = ca[i]; while (c.charAt(0) == ' ') { c = c.substring(1); } if (c.indexOf(name) == 0) { return c.substring(name.length, c.length); } } return ""; } window.setCookie = function(cname, cvalue, cdomain) { var expiredDate = new Date(); expiredDate.setDate(expiredDate.getFullYear() + 1); var newCookie = cname + "=" + cvalue + ";expires=" + expiredDate +";"; if(!!cdomain){ newCookie = newCookie + "domain=" + cdomain + ";"; } document.cookie = newCookie; } window.deleteCookie = function (cname, cdomain) { document.cookie = cname + '=;expires=Thu, 01 Jan 1970 00:00:01 GMT;domain=' + cdomain + ";"; } window.setCookie('mkto_opt_out', "id:true", ".ansarada.com"); window.onCookieOptanonChanged = function () { var optanonConsentValue = window.getCookie('OptanonConsent') var mktoOptOutKey = 'mkto_opt_out' if (!!optanonConsentValue) { var cookieConsentGroup = Object.fromEntries((new URLSearchParams(optanonConsentValue)).entries()).groups; if (!cookieConsentGroup) { // sometimes right cookie hasn't been pushed yet to the application, retry here to make sure the handler follow the cookies response window.setCookie(mktoOptOutKey, "id:true", ".ansarada.com") setTimeout(onCookieOptanonChanged, 1000); return; } var isPerformanceCookieAccepted = /C0002:1/.test(cookieConsentGroup); if (isPerformanceCookieAccepted && window.analytics && !window.analytics.initialized) { analytics.load("kDB17o2YFWrQ7nlRFuzHeHCgYdUQqlTZ"); } if (!isPerformanceCookieAccepted && !getCookie(mktoOptOutKey)) { window.setCookie(mktoOptOutKey, "id:true", ".ansarada.com"); if (window.mutiny && window.mutiny.client) { window.mutiny.client.defaultOptOut(); } } if (isPerformanceCookieAccepted) { window.deleteCookie(mktoOptOutKey, ".ansarada.com"); if (window.mutiny && window.mutiny.client) { window.mutiny.client.optIn(); } } } } let sessionId = getCookie('ampSession'); if (!sessionId) { let d = new Date(); sessionId = d.getTime(); setCookie('ampSession', sessionId); } analytics.page({},{ "integrations": { "Amplitude": { "session_id": sessionId } } }); }}(); analytics.ready(function() { if (MktoForms2) { MktoForms2.whenReady(function(thisForm) { let formVals = thisForm.getValues(); let isHidden = (Object.keys(formVals).length == 2 && formVals.formid && formVals.munchkinId); thisForm.setValues({"anonymousId": analytics.user().anonymousId()}); thisForm.addHiddenFields({"anonymousId": analytics.user().anonymousId()}); //Check for hidden form if (isHidden) { //analytics.identify(); //thisForm.submit(); } }); } }); </script> <link rel="shortcut icon" href="/Content/favicon/favicon.ico"> <link rel="apple-touch-icon-precomposed" sizes="57x57" href="/Content/favicon/apple-touch-icon-57x57.png" /> <link rel="apple-touch-icon-precomposed" sizes="114x114" href="/Content/favicon/apple-touch-icon-114x114.png" /> <link rel="apple-touch-icon-precomposed" sizes="72x72" href="/Content/favicon/apple-touch-icon-72x72.png" /> <link rel="apple-touch-icon-precomposed" sizes="144x144" href="/Content/favicon/apple-touch-icon-144x144.png" /> <link rel="apple-touch-icon-precomposed" sizes="60x60" href="/Content/favicon/apple-touch-icon-60x60.png" /> <link rel="apple-touch-icon-precomposed" sizes="120x120" href="/Content/favicon/apple-touch-icon-120x120.png" /> <link rel="apple-touch-icon-precomposed" sizes="76x76" href="/Content/favicon/apple-touch-icon-76x76.png" /> <link rel="apple-touch-icon-precomposed" sizes="152x152" href="/Content/favicon/apple-touch-icon-152x152.png" /> <link rel="icon" type="image/png" href="/Content/favicon/favicon-196x196.png" sizes="196x196" /> <link rel="icon" type="image/png" href="/Content/favicon/favicon-96x96.png" sizes="96x96" /> <link rel="icon" type="image/png" href="/Content/favicon/favicon-32x32.png" sizes="32x32" /> <link rel="icon" type="image/png" href="/Content/favicon/favicon-16x16.png" sizes="16x16" /> <link rel="icon" type="image/png" href="/Content/favicon/favicon-128.png" sizes="128x128" /> <meta name="application-name" content=" "/> <meta name="msapplication-TileColor" content="#FFFFFF" /> <meta name="msapplication-TileImage" content="/Content/favicon/mstile-144x144.png" /> <meta name="msapplication-square70x70logo" content="/Content/favicon/mstile-70x70.png" /> <meta name="msapplication-square150x150logo" content="/Content/favicon/mstile-150x150.png" /> <meta name="msapplication-wide310x150logo" content="/Content/favicon/mstile-310x150.png" /> <meta name="msapplication-square310x310logo" content="/Content/favicon/mstile-310x310.png" /> </head> <body>  <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-P6WB9R" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>  <script defer> var APP_ID = "abi25oug"; window.intercomSettings = { app_id: APP_ID }; </script> <script defer>(function(){var w=window;var ic=w.Intercom;if(typeof ic==="function"){ic('reattach_activator');ic('update',w.intercomSettings);}else{var d=document;var i=function(){i.c(arguments);};i.q=[];i.c=function(args){i.q.push(args);};w.Intercom=i;var l=function(){var s=d.createElement('script');s.type='text/javascript';s.async=true;s.src='https://widget.intercom.io/widget/' + APP_ID;var x=d.getElementsByTagName('script')[0];x.parentNode.insertBefore(s,x);};if(w.attachEvent){w.attachEvent('onload',l);}else{w.addEventListener('load',l,false);}}})();</script> <div id="react_0HNAF4K7FQFCE"><header class="_2L0C6xpr"><nav class="_3jbaAg1t"><div class="jPjtWujy"><a href="/"><img class="_3Ls7HfRW" src="/content/mace/static/d7b0290e73c93691ea1675ac0a1e39ce.png" alt="Ansarada" width="174" height="20"/><img class="_9vvBrpGr" src="/content/mace/static/b1fa143cff563149ee0df097eb0b12ac.svg" alt="Ansarada" width="20" height="20"/></a></div><div class="_2w3cNjpC"><div class="_3DlYVwIL"><button class="_3FDOXoep">Why Ansarada</button><div class="_3EAYL0ey"><ul class="_17XdgH2h"><li class="-NKV8259"><span class="_3YwPK_v8">Company</span><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/about">About</a></li></ul></li><li class="-NKV8259"><span class="_3YwPK_v8">Features</span><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/features/data-rooms">Virtual Data Room</a></li><li class="_3uvxevlt"><a href="https://www.ansarada.com/features/always-secure-storage">Always Secure Storage</a></li><li class="_3uvxevlt"><a href="https://www.ansarada.com/features/secure-file-share">Secure File Sharing</a></li><li class="_3uvxevlt"><a href="/operations-capital-debt">Capital & Debt: Review and Management</a></li><li class="_3uvxevlt"><a href="/features/due-diligence-question-answer">Q&A and Collaboration</a></li><li class="_3uvxevlt"><a href="/features/procure">Procurement Lifecycle Management</a></li><li class="_3uvxevlt"><a href="/features/pathways">Deal Preparation</a></li><li class="_3uvxevlt"><a href="/features/security-360">Security and Compliance</a></li><li class="_3uvxevlt"><a href="/features/dashboard-reporting">Dashboards and Reporting</a></li><li class="_3uvxevlt"><a href="/features/customer-success-help-centre">Customer Success and Help Centre</a></li><li class="_3uvxevlt"><a href="/features/deal-workflow">Workflow and Notifications</a></li><li class="_3uvxevlt"><a href="/features/ai">AI Insights and Automation</a></li><li class="_3uvxevlt"><a href="/features/redaction">Redaction</a></li></ul></li><li class="-NKV8259"><span class="_3YwPK_v8">Succeed</span><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/customers">Success Stories</a></li><li class="_3uvxevlt"><a href="/podcasts">Podcasts</a></li><li class="_3uvxevlt"><a href="/blog">Blog</a></li><li class="_3uvxevlt"><a href="/resources">Resources</a></li><li class="_3uvxevlt"><a href="/advantage-partner-directory">Find an Advisor</a></li><li class="_3uvxevlt"><a href="/partnerships/ansarada-advantage-partnership">Advantage Partner Program</a></li><li class="_3uvxevlt"><a href="/ansarada-tv">Ansarada TV</a></li><li class="_3uvxevlt"><a href="/webinars">Webinars</a></li><li class="_3uvxevlt"><a href="/women-in-dealmaking">Women in Dealmaking</a></li><li class="_3uvxevlt"><a href="/ansarada-labs">Ansarada Labs</a></li></ul></li></ul></div></div><div class="_3DlYVwIL"><button class="_3FDOXoep">What you can do</button><div class="_3EAYL0ey"><ul class="_17XdgH2h"><li class="-NKV8259"><span class="_3YwPK_v8">By outcome</span><ul><li><button class="_2dcalJU0">Secure File Storage and Sharing</button><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="https://www.ansarada.com/features/always-secure-storage">Always Secure Storage</a></li><li class="_3uvxevlt"><a href="https://www.ansarada.com/features/secure-file-share">Secure File Sharing</a></li></ul></div></li><li><button class="_2dcalJU0">Deals & Corporate Transactions</button><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/transactions/company-sale-exit">M&A: Company Sale/Exit</a></li><li class="_3uvxevlt"><a href="/transactions/targeted-acquisitions">Targeted Acquisitions</a></li><li class="_3uvxevlt"><a href="/integrations/post-merger-integration">Acquisition Integration</a></li><li class="_3uvxevlt"><a href="/transactions/capital-raise">Raising Capital</a></li><li class="_3uvxevlt"><a href="/transactions/ipo">IPO</a></li><li class="_3uvxevlt"><a href="/transactions/due-diligence">Due Diligence</a></li><li class="_3uvxevlt"><a href="/transactions/strategic-review">Strategic Review</a></li><li class="_3uvxevlt"><a href="/transactions/investor-restructuring-bankruptcy-insolvency">Insolvency</a></li></ul></div></li><li><button class="_2dcalJU0">Portfolio and Asset Management</button><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/asset-management/debt-raise">Raising a Fund</a></li><li class="_3uvxevlt"><a href="/asset-management/financing">Asset Lifecycle Management</a></li></ul></div></li><li><button class="_2dcalJU0">Infrastructure Procurement</button><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/tender/feasibility-study">Feasibility Study</a></li></ul></div></li><li><button class="_2dcalJU0">Post Deal Integrations</button><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/integrations/post-merger-integration">Post Merger Integration</a></li></ul></div></li></ul></li><li class="-NKV8259"><span class="_3YwPK_v8">By industry</span><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/financial-services-insurance">Financial Services</a></li><li class="_3uvxevlt"><a href="/commercial-real-estate">Real Estate</a></li><li class="_3uvxevlt"><a href="/consumer-retail">Consumer Retail</a></li><li class="_3uvxevlt"><a href="/healthcare">Healthcare</a></li><li class="_3uvxevlt"><a href="/technology-media-telecom">Technology</a></li><li class="_3uvxevlt"><a href="/energy">Energy and Industrials</a></li><li class="_3uvxevlt"><a href="/metals-mining">Mining</a></li><li class="_3uvxevlt"><a href="/oil-gas">Oil and gas</a></li><li class="_3uvxevlt"><a href="/utilities-infrastructure">Utilities and Infrastructure</a></li></ul></li><li class="-NKV8259"><span class="_3YwPK_v8">By role</span><ul class="_1C-a8R4l"><li class="_3uvxevlt"><a href="/companies">Companies</a></li><li class="_3uvxevlt"><a href="/advisors">Deal Advisors</a></li><li class="_3uvxevlt"><a href="/financial-sponsors">Financial Sponsors</a></li><li class="_3uvxevlt"><a href="/procurement-advisors">Procurement Advisors</a></li><li class="_3uvxevlt"><a href="/Investment-Banking">Investment Banking</a></li></ul></li></ul></div></div><div class="_3DlYVwIL"><button class="_3FDOXoep" type="button">Virtual Data Room</button></div></div><a href="https://help.ansarada.com" class="_3PFCLpqZ _2SaCHeGm">Support</a><a href="https://dash.ansarada.com" class="_3PFCLpqZ">Log in</a><a href="/free-trial" class="odK3cdhn _3KsBTf5T _1dfIxfUd _1Q1l4hEk">Try now for free</a><button class="xRN5ZOfk wCxq9mZq" type="button" data-testid="hamburguer"><span class="m8BlZJru">Open menu</span></button></nav></header><div class="header-after" id="header-after"></div><div class="_27Nn-1w0 _2RhSfFz9"><div class="_2OJrpmNU"><p class="_3deVo6h5">Are you ready for your next deal?</p><h1 class="I6bCAYPz">Virtual Data Rooms</h1><p class="_2NcrNKPj">Here’s all you need to know about Virtual Data Rooms and how they are key to business success. Ansarada are here to unveil the myths & mysteries of Virtual Data Rooms, answer your frequently asked questions, compare providers, and take you through important checklists for companies and advisors.</p></div></div><div class="_27Nn-1w0 _23ksh8GY _2jRKp3m1 lrpNGd0Y"><div class="_2EPp_ikC"><span>ADVISORS: Get a quote online + free data room in a few minutes</span> <button type="button" class="odK3cdhn _2oayVPgo JQu1tGA0">Get a quote now.</button></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1"><h2 class="_1ux8ecfB">Drive smarter outcomes</h2><p class="Pm5Zkiaq">Confidently get ready for and achieve critical business outcomes with the world's smartest Virtual Data Room.</p><div><div class="wistia_responsive_padding" style="padding:56.25% 0 0 0;position:relative"><div class="wistia_responsive_wrapper" style="height:100%;left:0;position:absolute;top:0;width:100%"><div class="wistia_embed wistia_async_1jehq57zls seo=false videoFoam=true" style="height:100%;width:100%"> </div></div></div></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"><h3> </h3> <h2>What is a virtual data room?</h2> <p>A virtual data room (VDR) is a virtual space that acts much like a physical data room except that all data is hosted securely online with security controls over information and reporting on usage. In the days before virtual data rooms, M&A potential buyers would need to visit an actual room in person to review stacks of critical documents and paperwork. Today, multiple potential buyers can access confidential information simultaneously online.</p> <p><br /> Learn more – <a href="/what-is-virtual-data-room">What is a Virtual Data Room</a>?</p> <h2> </h2> </div></div><div class="_27Nn-1w0 _2n7tnUu7"><h2 class="_1ux8ecfB">Why use a virtual data room?</h2><p class="Pm5Zkiaq">From M&A through capital raises, audits, strategic reviews and tenders, material outcomes depend on virtual data rooms. But data rooms aren’t created equal. What sets a modern data room apart from legacy rooms:</p><div class="_2kiPN3bE _3NHVurcd"><div class="_2QJZ2moG"><img data-src="/getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=512" alt="More than storage and file sharing" class="lazyload _2M5gnhyL" data-srcset="/getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=703 703w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=536 536w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=338 338w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=512 512w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=1024 1024w" data-sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/><noscript><img src="/getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=512" alt="More than storage and file sharing" class="_2M5gnhyL" srcSet="/getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=703 703w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=536 536w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=338 338w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=512 512w, /getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png?width=1024 1024w" sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/></noscript></div><div class="_3vQqTUyW"><div class="U7bcRtXd"><h2 class="_1v8bOQCE">More than storage and file sharing</h2><div class="_3AtkvlaE _2TAxFlW1"><p><a href="/data-room-software">Data Room software</a> isn’t just about collecting, collating and storing information. Modern Virtual Data Rooms integrate with other platforms to allow two-way syncing and drag-and-drop functionality that can get a room up and running in minutes. Granular access privileges, print and save controls, tracking of all actions, reporting and sophisticated Q&A enables seamless collaboration. Artificial intelligence powers and automates smart analytics on the motives and behaviour behind people’s activity.</p> </div></div></div></div></div><div class="_27Nn-1w0 _23ksh8GY"><div class="_2kiPN3bE"><div class="_2QJZ2moG"><img data-src="/getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=512" alt="More than manual labour and guesswork" class="lazyload _2M5gnhyL" data-srcset="/getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=703 703w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=536 536w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=338 338w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=512 512w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=1024 1024w" data-sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/><noscript><img src="/getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=512" alt="More than manual labour and guesswork" class="_2M5gnhyL" srcSet="/getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=703 703w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=536 536w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=338 338w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=512 512w, /getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png?width=1024 1024w" sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/></noscript></div><div class="_3vQqTUyW"><div class="U7bcRtXd"><h2 class="_1v8bOQCE">More than manual labour and guesswork</h2><div class="_3AtkvlaE _2TAxFlW1 _1rXPKHuf"><p><a href="/due-diligence/ai">Artificial Intelligence</a> and automated scorecards not only automate reporting, they predict outcomes with 97% probability within seven days when using a virtual data room for selling an asset. Workflows and processes developed by experts enable advisors and companies to prepare for deals fast and get to work immediately on driving their desired outcome. This saves significant time and money compared to generic tools and processes. Pathways that are reverse engineered from thousands of deals outline what is required - in quantity and quality - in a path to follow for proven success in critical transactions and deals. Only highly advanced data rooms remove the guesswork as to what documents and steps are needed to prepare for and complete a transaction in line with an investor’s or buyer’s requirements.</p> </div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7"><div class="_2kiPN3bE _3NHVurcd"><div class="_2QJZ2moG"><img data-src="/getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=512" alt="More than a transaction tool" class="lazyload _2M5gnhyL" data-srcset="/getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=703 703w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=536 536w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=338 338w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=512 512w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=1024 1024w" data-sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/><noscript><img src="/getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=512" alt="More than a transaction tool" class="_2M5gnhyL" srcSet="/getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=703 703w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=536 536w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=338 338w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=512 512w, /getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png?width=1024 1024w" sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/></noscript></div><div class="_3vQqTUyW"><div class="U7bcRtXd"><h2 class="_1v8bOQCE">More than a transaction tool</h2><div class="_3AtkvlaE _2TAxFlW1"><p>Modern data rooms position you to get ready, run and realize value from more than just an M&A deal, asset sale or IPO. Companies lower the cost of ownership and leverage data room capabilities for instilling operational discipline, governance and risk management around material information necessary for audits, compliance, tenders, post deal integrations, readiness, investor reporting, board communication and more. Lack of functionality, no integration with cloud storage, complexity of use and pricing based on information limits imposed by legacy rooms - all combine to create roadblocks for companies to prepare for and achieve optimal outcomes.</p> </div></div></div></div></div><div class="_27Nn-1w0 _23ksh8GY"><div class="_2kiPN3bE"><div class="_2QJZ2moG"><img data-src="/getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=512" alt="More than limits on data size" class="lazyload _2M5gnhyL" data-srcset="/getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=703 703w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=536 536w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=338 338w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=512 512w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=1024 1024w" data-sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/><noscript><img src="/getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=512" alt="More than limits on data size" class="_2M5gnhyL" srcSet="/getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=703 703w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=536 536w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=338 338w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=512 512w, /getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png?width=1024 1024w" sizes="(max-width: 767px) 703px, (max-width: 600px) 536px, (max-width: 400px) 338px, 512px"/></noscript></div><div class="_3vQqTUyW"><div class="U7bcRtXd"><h2 class="_1v8bOQCE">Unlimited users, unlimited possibilities</h2><div class="_3AtkvlaE _2TAxFlW1 _1rXPKHuf"><p>Advisors can now count on Ansarada as an essential tool for total transaction management across the complete deal lifecycle - from marketing to preparation to execution and post-deal integration. The new <a href="/features/deal-workflow">Deal Workflow</a> tool will keep all team members working cohesively and strategically, which is why we’ve enabled our pricing to include unlimited users. Now you can invite as many users as you like.</p> </div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7"><h2 class="_1ux8ecfB">Common uses for Virtual Data Rooms</h2></div><div class="_27Nn-1w0 _3_IegOOa"><div class="_3rs8k8mB"><img data-src="/getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png?width=130" alt="" class="lazyload _1UBqh5rF" data-srcset="/getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png?width=130 130w, /getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png?width=260 260w"/><noscript><img src="/getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png?width=130" alt="" class="_1UBqh5rF" srcSet="/getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png?width=130 130w, /getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png?width=260 260w"/></noscript><div><h1 class="GQim9qGa">Start for free today, no credit card required</h1><div class="_1M7URPWY"><p>Achieve better outcomes with the most advanced Virtual Data Room</p> </div><ul class="_2vyVzv9t"><li class="_1TEz72jn">Simpler</li><li class="_1TEz72jn">Smarter</li><li class="_1TEz72jn">Safer</li></ul></div><div class="_26eH8u3J"><a href="https://www.ansarada.com/freemium-signup/corporate" class="odK3cdhn _3KsBTf5T JQu1tGA0">Try now for free</a></div></div></div><div class="_27Nn-1w0 _23ksh8GY _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv _1rXPKHuf"><h2> </h2> <h2>Who uses Virtual Data Rooms?</h2> <p><br /> <strong>Investment bankers:</strong> Investment banking processes like IPOs demand huge amounts of information sharing. </p> <p><strong>VCs & private equity firms:</strong> Often assessing many transactions at once, VDRs facilitate the organization and sharing of reams of data.</p> <p><strong>Auditors & regulators:</strong> Regulators use the file sharing services within a secure VDR to review and audit company information.</p> <p><strong>Lawyers:</strong> Lawyers use VDR in their day-to-day job of advising corporate clients on transactions and ensuring legal compliance.</p> <p><strong>Startups: </strong>Smart startups use VDR as an online repository of important company information so that they’re always ready for a raise.</p> <p><strong>Business leaders:</strong> CFOs are able to view all critical company information at a glance within a VDR to ensure the business is always positioned for growth.</p> <h1> </h1> </div></div><div class="_27Nn-1w0 _2jRKp3m1"><h2 class="_1ux8ecfB">Virtual Data Room Q&A</h2><p class="Pm5Zkiaq">Got a burning question about virtual data rooms? It may have been asked already before. Find all your data room questions answered right here.</p><div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What is a Data Room?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>A data room is a physical or virtual space where one party can disclose confidential information in a controlled manner to a number of other interested parties. Data rooms are used frequently during mergers and acquisitions (M&A) where a seller and their advisors need to facilitate due diligence and reveal information about their company or asset to several interested buyers at the same time.</p> <p><br /> Learn more – <a href="/what-is-data-room">What is a Data Room</a>?</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>Why use a Virtual Data Room during M&A?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Data Rooms make the entire M&A due diligence process easier, more efficient and safer for everyone involved. They allow the sell-side party to keep full control over how and when information is revealed and to whom. The sell-side can also manage all communication with their bidders through the Virtual Data Room. When the deal is done, they offer a full audit trail of disclosure through a single digital archive of all activity.</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What is due diligence?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p><a href="/due-diligence">Due diligence</a>, as it relates to M&A, involves the disclosure of information by the sell-side to prospective parties. It is the process to ensure each party involved is exposed to all relevant facts before making any final decisions on the deal.</p> <p>The term originated in the United States Security Act 1933, where any broker accused of inadequate disclosure was protected from liability if they could demonstrate that they had performed due diligence. Naturally, to avoid risk this practice soon became the industry standard.</p> <p>It is now the norm for companies to make a legal and voluntary disclosure of all sorts of information to help potential buyers form a clear picture of their current operations and future prospects. Interested parties are then able to make informed and intelligent business decisions.</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What happens during due diligence?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Documents concerning the past, present, and future prospects of the business are made available to each bidder during due diligence. The aim is to be as open and transparent as possible, while still protecting the interests of the business.</p> <p>Care needs to be taken, as interested parties could include the seller’s direct competitor or perhaps a new company entering the industry. Equally, the deal may at any time fall through or be called off. In the case where the deal does successfully go through, there is a duty of care to ensure that unsuccessful bidders aren’t left with information that could be used against the new owner.</p> <p>For this reason, extremely sensitive information may be held back until the final stages of negotiation when it is clear which bidders are serious about making a deal.</p> <p>Learn more – <a href="/due-diligence/process">Due Diligence Process</a></p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>Is there really any difference between Data Room providers?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Yes! There are many products on the market that often get labelled as ‘data rooms’ but are in fact more like simple file sharing. When it comes to M&A, they are ill-equipped to offer the level of security, collaboration tools, reporting and flexibility needed in the typical high risk low trust environment of M&A due diligence with bidders who can be the selling companies direct competitors. </p> <p>Products can vary from the very basic, with minimum security and rudimentary filing structure and navigation, to more sophisticated, highly secure and at times, very complex setups. Going with generic file sharing and storage tools is a false economy as the lack of features creates inefficiencies that result in higher transaction costs and waste time of busy management teams who should be maximizing focus on running the business while a transaction is occurring.</p> <p>Learn more – <a href="/virtual-data-room-providers">Virtual Data Room Providers</a>.</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>Why not just use a basic data room for deals like M&A?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Basic data rooms are great for sharing files between offices and disclosure.</p> <p> </p> <p>However, during M&A when a seller wants greater control over who sees what and when, with greater visibility over potential buyer behaviour in the data room it pays to invest in a data room built with the specific M&A workflow and process in mind.</p> <p> </p> <p>At first glance, it might seem that a simple secure environment is all that is needed to share documents during your deal. However, beyond document storage you need to consider how easy it is to upload and download documents, to integrate with Excel and email, to set security for different users, to change access quickly if the mood changes during negotiations, to shut down access in an instant if the deal is called off, to analyze reports to focus on risks, and to restrict access to some parties and not all - for instance, if a close competitor is in your data room. Even seemingly simple things like how documents are indexed and numbered can cost hours and thousands of dollars, whereas a data room can do this automatically to best practice standards that advisors and investors require. </p> <p> </p> <p>In short, the impact on every users experience for both buy side and sell side teams translates into greater efficiency, confidence and outcomes or significant frustrations, stress, risk and inefficiency. The right tool for the job at hand is a critical decision.</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What are the risks in using a file sharing system vs a fully fledged Data Room?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Simple systems are intended for simple usage. They can fast become a headache when used for anything more. Limited functionality can cause a huge waste of time and potential security issues for all involved.<br /> <br /> Learn more – <a href="/virtual-data-room-security">How Secure is a Virtual Data Room</a>?</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>Why use a data room such as Ansarada designed for deals like M&A and raising capital?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>By using a specialist data room, you will find features built specifically to make the M&A due diligence process easier and more secure. What you won’t find is a bunch of stuff you will never use cluttering up the page and slowing down the system.</p> <p> </p> <p>That means potential buyers accessing your data room will see a professional looking system where they can find the information they need to make their decision fast.</p> <p> </p> <p>Great news if you are the one selling!</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What happens during Q&A?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>During M&A, once your data room is up and running, your ability to keep the deal running smoothly will largely revolve around <a href="/features/due-diligence-question-answer">due diligence Q&A</a>. Q&A (questions & answers) is where interested buying parties ask the seller and their advisors a number of questions to decide on the value and attractiveness of the company to be sold. Questions typically relate to documents that have been made available for review through the data room. Answers are often drafted by advisors or subject matter experts in the business and then sent to senior managers for approval. Given the sensitive nature of questions subjects, like HR employment agreements, it is essential that access to subjects can be restricted to both buy and sell side users. Allowing bidders to upload questions in bulk from excel templates and export too is another essential feature in modern Q&A workflow for deals.</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What's the best way to manage Q&A?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Some people choose to run Q&A outside the data room using complex Excel spreadsheets passed back and forth over email. On each buy-side team, long lists of questions are compiled and sent to someone on the sell-side. That person then has to review the list and send out clusters of questions to different people in their team to review and respond to. When they receive answers bit by bit from different people they have to continually update their spreadsheet and forward the relevant answers to the relevant buyers. If this sounds like a chore, then you would be right! It’s the single, most time-consuming part of the M&A process. This is where ‘M&A’ can equal ‘Misery & Angst’!</p> <p> </p> <p>This method is complex, laborious and risky, with question and answers often getting duplicated. There’s the continual risk of sending the wrong information to the wrong person, potentially outdated spreadsheets being in circulation and the creation of an understandably complicated audit trail across numerous email accounts. It can be overwhelming.</p> <p> </p> <p>Thankfully there is a better way. With all Q&A-related documents being held within the data room, it makes sense to run Q&A here as well. Ansarada offer a Q&A process designed exclusively for M&A to help centralise Q&A workflow and make life easier and safer on both sides of the deal.</p> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>What should I look out for when choosing a Data Room for M&A?</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p><strong>Access</strong></p> <ul> <li>Can you easily connect your data room to drag & drop or automatically import documents from other systems and Cloud storage solutions?</li> <li>Will documents imported from Cloud storage solutions automatically sync for constant updating?</li> <li>How easy is it to open and view documents?</li> <li>Do you need to download any sort of viewing software?</li> <li>Can you and your potential bidders access the data room from all operating systems and devices with the same ease or are there any restrictions/caveats?</li> <li>How fast and easy it is to change access by user or user group if needed?</li> </ul> <p><strong>Flexibility</strong></p> <ul> <li>Can you change who sees what, or do blanket security settings apply?</li> <li>Do you have flexibility on watermarking, document access, printing, saving, revoking access by user?</li> <li>Is the system easily scalable to suit any size deal?</li> </ul> <p><strong>Ease of use</strong></p> <ul> <li>How fast and easy is it to get the data room up and running?</li> <li>How easy will it really be for multiple users to log in from different time zones and operating systems?</li> <li>How intuitive is the system to navigate around?</li> <li>What systems are in place to help save time, such as bulk upload and download?</li> <li>Does the Room come pre-provisioned with workflows and processes?</li> </ul> <p><strong>Control</strong></p> <ul> <li>How much control can the data room offer over workflow?</li> <li>How easy is it to get a clear overview of all activity within the data room?</li> </ul> <p><strong>Search</strong></p> <ul> <li>How sophisticated is the search facility?</li> <li>Can you search within documents as well as across headlines?</li> <li>Can you search for terms within PDFs as well as Microsoft Office documents?</li> </ul> <p><strong>Reporting</strong></p> <ul> <li>What reporting tools are available?</li> <li>What format will reports come in?</li> <li>Does the Room use AI to automatically predict outcomes and score activity?</li> <li>Are easy-to-view and use dashboards included?</li> <li>Does the Data Room feature scorecards that automatically show you how your transaction is progressing and the status of documents?</li> </ul> <p><strong>Q&A for M&A</strong></p> <ul> <li>How easy would it be to run Q&A through the data room?</li> <li>Can you easily create scorecards and templates for the transaction?</li> <li>Will you still need to use email and spreadsheets for tracking and Q&A?</li> <li>Can you easily assign people to review documents, Q&A and information?</li> <li>Does the Data Room offer threaded commenting?</li> </ul> <p><strong>Support</strong></p> <ul> <li>Does the data room offer 24/7/365 support if needed?</li> <li>Where is the support based geographically?</li> <li>What kind of support is available – just technical, or is more strategic expert support available?</li> <li>How fast will they respond to your enquiries? In what format?</li> </ul> <p><strong>Pricing</strong></p> <ul> <li>How is the cost of your data room calculated?</li> <li>Are there any additional fees that could potentially be added as the project moves forward?</li> <li>What happens if your deal gets delayed or even cancelled?</li> <li>What happens if you exceed information limits?</li> <li>What happens if you need to scale-up or scale-down users?</li> <li>Can you get access to monthly pricing?</li> </ul> <p><strong>Security</strong></p> <ul> <li>What independent security accreditation does the provider have?</li> <li>What other security measures are in place to keep data from falling into the wrong hands?</li> <li>How foolproof is the audit trail?</li> </ul> <p><strong>Experience</strong></p> <ul> <li>What experience does your provider have in the M&A space?</li> <li>Have they ever worked on a deal like yours before?</li> </ul> </div></div></div></div></div></div><div class="_27Nn-1w0 _2jRKp3m1"><div class="_3Jedet0f"><h2 class="_2uMJG3w_">Have you got the right room for the job?</h2><div class="_3AtkvlaE _3Z5eQS_4">From M&A through capital raises, audits, strategic reviews and tenders, material outcomes depend on data rooms.</div><a href="https://www.ansarada.com/virtual-data-room-101" class="odK3cdhn _3KsBTf5T JQu1tGA0">Download our VDR guide and checklist</a></div></div><div class="_27Nn-1w0 _2jRKp3m1"><h2 class="_1ux8ecfB">Data Room Checklists</h2><p class="Pm5Zkiaq">A simple guide to selecting, buying and running a virtual data room.</p><div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>Quick advisor checklist</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>For a comprehensive checklist, chat to an Ansarada advisor. Here is a sample of the most basic checklist you should address when selecting a data room:</p> <ol> <li> <p><strong>Does the vendor offer 24x7x365 support and has a dedicated customer support person available for training and guidance? </strong>Ansarada enables you to select the support offering best suited to your needs and stage. Our team has supported thousands of people, from those who are first timers through to the world’s most sophisticated dealmakers. </p> </li> <li> <p><strong>Will you be charged for the data you load? </strong>Most rooms exceed the data limits and prices quoted resulting in pricing surprises. Don’t pay for data - it is critical to securing an optimal outcome and you shouldn’t be worrying about it. </p> </li> <li> <p><strong>Are pricing and feature packages scalable and flexible? </strong>Most events run longer than nine months and the number of guests will change during this timeframe. Most events also require security and reporting that generic file sharing and storage tools can’t deliver. Ansarada enables you to pay for as little as one month, or buy an annual plan with significant discounts. Extra features and users can be added as needed, and the number of guest users is unlimited too. </p> </li> <li> <p><strong>What security standards and features does the room satisfy?</strong> Most legacy room vendors quote a range of security features that are standard. When looking for ISO 27001 compliance, don’t be faked out. Ask for the vendor's ‘Statement of Applicability’ for their ISO 27001 certification as an indication of total security. Ansarada complies with 113 controls under this standard and has passed external audits against them for 9 years straight.</p> </li> <li> <p>Also, look for features that ensure critical security functionality is available - such as the ability to control document access, printing and saving in their native format. The ability to track, report on usage and destroy downloaded documents you may let people temporarily save remotely is also essential. Doing all this in native formats like Microsoft Excel is essential too, otherwise conversion to an online viewer can make it unusable. Check how easy the security controls are to understand and use too. Nothing frustrates people more than overly complex controls. </p> </li> <li> <p><strong>Are core functions like Q&A automated & modernized? </strong>Most legacy rooms offer basic Q&A with limited workflow flexibility, role allocation, commenting, collaboration, reporting and security controls on their Q&A facilities. All this restricts their usage and introduces risks and inefficiency.  With more than 70% of deal-time spent on Q&A, look for a data room that nails this. Advanced data rooms integrate with Excel, allowing importing of pre-written questions a breeze, and exporting out for reporting, proof of disclosure and compliance easy too. 38% of all actions in the Q&A process involve getting answers reviewed and approved before disclosure, and 90% of all questions take up to six interactions to answer. Q&A that allows an answering and approving of answers via email simplifies and accelerates this critical process, especially for senior executives. Ansarada’s advanced Q&A puts you in total control and reduces the workload to a fraction of the time. </p> </li> <li> <p><strong>Ensure compliant procurement policies and recommendations. </strong>Vendor incentives thrown at advisors by legacy data room providers do not meet many current procurement and compliance policies. If you're an advisor, ensure you are making a fair and independent recommendation to your client. If you’re a company, make sure you are getting recommended to go with the solution that will serve you best based on service, price, features, security and ease of use - not on entertainment and incentives given to advisors that you end up paying for.</p> </li> </ol> </div></div></div></div></div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1 _3AvyBIda"><div class=""><button class="i4Iohv9H"><h2>Quick company checklist</h2></button><div><div style="height:0;transition:height 256ms ease-in-out, visibility 256ms ease-in-out;overflow:hidden;visibility:hidden"><div class="Fho69JYE"><div class="_3AtkvlaE"><p>Companies often receive multiple-bid quotes from advisors on rooms. Here are a few of the questions to ask:</p> <ol> <li> <p><strong>Will there be any pricing surprises and cost overruns? </strong>Predictable pricing based on a monthly or annual subscription will reduce the risks and enable you to grow the room as your need and opportunity grows.</p> </li> <li> <p><strong>Are there purpose-built tools for you and advisors to make preparation for deals and projects easier? </strong>Look to start work in a data room platform as quickly as possible. This will expose sources of value and gaps faster. You can track towards outcomes and collaborate with advisors efficiently. Flexible pricing and Cloud connections to major services such as Google and Dropbox makes it easy to get going. </p> </li> <li> <p><strong>Can AI, advanced Q&A, and Pathways make the process more cost efficient? Eliminate risks? </strong>Help make smart decisions? How will your virtual data room boost your team’s productivity by enabling processes to be standardized and scaled? What risks and extra costs will you incur without these?  </p> </li> <li> <p><strong>How can you be assured of compliance and probity - even on documents downloaded from the room? </strong>Most virtual data rooms offer a degree of security. Ask for ISO27001 compliance and a statement of applicability against it to quickly assess the comprehensiveness of the vendors security controls. </p> </li> <li> <p><strong>Is reporting based on subjective data, rather than AI driven insights? </strong>Does the data room offer AI-powered scoring of bidders engagement levels? Advances in AI enable you to predict the outcome of a material event with 97% probability by day seven. This same capability enables you and advisors to focus on the right people and eliminate people not engaged fully in your transaction. </p> </li> <li> <p><strong>How has the recommender benefited from the room vendor? </strong>Data room vendors offer advisors a range of incentives to recommend rooms. These range from tickets to sports games to other benefits. Ansarada operates to strict procurement and professional standards to ensure integrity. Ensure your recommendation of a room is not being made unethically and outside your procurement policies.</p> </li> </ol> </div></div></div></div></div></div><div class="_27Nn-1w0 _23ksh8GY _2jRKp3m1"><div class="_3Jedet0f"><h2 class="_2uMJG3w_">Aren't you just a little bit curious?</h2><div class="_3AtkvlaE _3Z5eQS_4 _1rXPKHuf">Try now for free. Open a free Data Room to get started - no credit card required.</div><a href="https://www.ansarada.com/freemium-signup/corporate" class="odK3cdhn _1GM8xurW JQu1tGA0">Try now for free</a></div></div><div class="footer-before" id="footer-before"></div><footer class="_1WXM4L1X"><div class="_3lQkbfaG"><div class="_3I6hftPP"><div class="_1KkQ3RYl"><h2 class="_2oKXlvjN"><button class="_36Zq60vd">Community</button><span class="_2okBbI6W">Community</span></h2><ul class="h068EY5L"><li class="zMPo-zK5"><a href="/blog">Blog</a></li><li class="zMPo-zK5"><a href="/events">Events</a></li><li class="zMPo-zK5"><a href="/customers">Success Stories</a></li></ul></div><div class="_1KkQ3RYl"><h2 class="_2oKXlvjN"><button class="_36Zq60vd">Company</button><span class="_2okBbI6W">Company</span></h2><ul class="h068EY5L"><li class="zMPo-zK5"><a href="/about">About</a></li><li class="zMPo-zK5"><a href="/virtual-data-rooms">Virtual Data Rooms</a></li><li class="zMPo-zK5"><a href="/help-centre">Help Centre</a></li><li class="zMPo-zK5"><a href="/resources">Resources</a></li><li class="zMPo-zK5"><a href="/Careers">Careers</a></li><li class="zMPo-zK5"><a href="/faqs">FAQs</a></li><li class="zMPo-zK5"><a href="/contact">Contact us</a></li><li class="zMPo-zK5"><a href="/pricing">Pricing</a></li></ul></div><div class="_1KkQ3RYl _2sNXjX8_"><h2 class="_2oKXlvjN">Subscribe to our newsletter</h2><div class="_2dI51RXd"><iframe class="lazyload _3ZJMNLj1" title="Form"></iframe><noscript><iframe class="_3ZJMNLj1" title="Form"></iframe></noscript></div></div></div><div class="FTjI5TJ_"><div class="_1ZzYQ76_"><img src="/content/mace/static/b1fa143cff563149ee0df097eb0b12ac.svg" class="_22Cbge9z" width="18" height="18" alt=""/><a class="_3J9oGNiH" href="/legal-policies">Legal</a><a class="_3J9oGNiH" href="/privacy">Privacy policy</a></div><div class="ccNDxBXq"><p>© 2005–2025 Ansarada Pty Ltd. All Rights Reserved</p></div><ul class="_2YB_Su_L"><li class="_2o4GXCYA"><a href="https://www.facebook.com/AnsaradaPlatform" class="_1Yw7yNxb sohR_nXm" target="_blank" rel="noopener noreferrer"><span class="_3T9YxdNr">Facebook</span></a></li><li class="_2o4GXCYA"><a href="https://www.linkedin.com/company/ansarada" class="_1Yw7yNxb _241sHQ6h" target="_blank" rel="noopener noreferrer"><span class="_3T9YxdNr">LinkedIn</span></a></li><li class="_2o4GXCYA"><a href="https://twitter.com/ansarada" class="_1Yw7yNxb _2_SrbrA6" target="_blank" rel="noopener noreferrer"><span class="_3T9YxdNr">Twitter</span></a></li></ul></div></div></footer></div> <div> </div> <script src="/Content/mace/libs/lazysizes/lazysizes.min.js?v=638753730221908366" async></script> <script src="/Content/mace/libs/focus-visible/focus-visible.min.js?v=638753730221908366"></script> <script src="/Content/mace/libs/ofi/ofi.min.js?v=638753730222064822"></script> <script src="/Content/mace/client.bundle.js?v=638753730221596080"></script> <script src="/Content/scripts/site.js?v=638753730232377455"></script> <script src="//code.jquery.com/jquery-3.6.0.min.js" integrity="sha256-/xUj+3OJU5yExlq6GSYGSHk7tPXikynS7ogEvDej/m4=" crossorigin="anonymous"></script> <script src="//unpkg.com/swiper@8/swiper-bundle.min.js" integrity="sha256-sIzJvXn4c8vzqUaAEAdL0cLt5FJNmTofQu2xd4+jZXo=" crossorigin="anonymous"></script> <script type="text/javascript" src="//s3.tradingview.com/tv.js" integrity="sha256-xerv7kW7iEJzOlu9svgzkdtnPR6+qFnniefByLngRW0=" crossorigin="anonymous"></script> <script src="/Content/scripts/devotion.js?v=638753730232221091"></script> <script>console.warn("[.NET]", "Using browser-only version of superagent in non-browser environment", "\nCall stack: Error\n at MockConsole._handleCall (React.Core.Resources.shims.js:28:31)\n at server.bundle.js:2:300248\n at o (server.bundle.js:2:251796)\n at Object.<anonymous> (server.bundle.js:2:299820)\n at Object.<anonymous> (server.bundle.js:2:413602)\n at n (server.bundle.js:2:110)\n at Module.<anonymous> (server.bundle.js:2:1110120)\n at n (server.bundle.js:2:110)\n at Module.<anonymous> (server.bundle.js:2:1192453)\n at Module.<anonymous> (server.bundle.js:2:1193110)");ReactDOM.hydrate(React.createElement(Templates.Wrapper, {"components":[{"type":"Templates","name":"Nav","props":{"supportHref":"https://help.ansarada.com","loginHref":"https://dash.ansarada.com","buyHref":"/free-trial","linkMenu":[{"name":"Why Ansarada","categories":[{"name":"Company","links":[{"name":"About","href":"/about"}]},{"name":"Features","links":[{"name":"Virtual Data Room","href":"/features/data-rooms"},{"name":"Always Secure Storage","href":"https://www.ansarada.com/features/always-secure-storage"},{"name":"Secure File Sharing","href":"https://www.ansarada.com/features/secure-file-share"},{"name":"Capital \u0026 Debt: Review and Management","href":"/operations-capital-debt"},{"name":"Q\u0026A and Collaboration","href":"/features/due-diligence-question-answer"},{"name":"Procurement Lifecycle Management","href":"/features/procure"},{"name":"Deal Preparation","href":"/features/pathways"},{"name":"Security and Compliance","href":"/features/security-360"},{"name":"Dashboards and Reporting","href":"/features/dashboard-reporting"},{"name":"Customer Success and Help Centre","href":"/features/customer-success-help-centre"},{"name":"Workflow and Notifications","href":"/features/deal-workflow"},{"name":"AI Insights and Automation","href":"/features/ai"},{"name":"Redaction","href":"/features/redaction"}]},{"name":"Succeed","links":[{"name":"Success Stories","href":"/customers"},{"name":"Podcasts","href":"/podcasts"},{"name":"Blog","href":"/blog"},{"name":"Resources","href":"/resources"},{"name":"Find an Advisor","href":"/advantage-partner-directory"},{"name":"Advantage Partner Program","href":"/partnerships/ansarada-advantage-partnership"},{"name":"Ansarada TV","href":"/ansarada-tv"},{"name":"Webinars","href":"/webinars"},{"name":"Women in Dealmaking","href":"/women-in-dealmaking"},{"name":"Ansarada Labs","href":"/ansarada-labs"}]}],"link":""},{"name":"What you can do","categories":[{"name":"By outcome","linkGroups":[{"name":"Secure File Storage and Sharing","links":[{"name":"Always Secure Storage","href":"https://www.ansarada.com/features/always-secure-storage"},{"name":"Secure File Sharing","href":"https://www.ansarada.com/features/secure-file-share"}]},{"name":"Deals \u0026 Corporate Transactions","links":[{"name":"M\u0026A: Company Sale/Exit","href":"/transactions/company-sale-exit"},{"name":"Targeted Acquisitions","href":"/transactions/targeted-acquisitions"},{"name":"Acquisition Integration","href":"/integrations/post-merger-integration"},{"name":"Raising Capital","href":"/transactions/capital-raise"},{"name":"IPO","href":"/transactions/ipo"},{"name":"Due Diligence","href":"/transactions/due-diligence"},{"name":"Strategic Review","href":"/transactions/strategic-review"},{"name":"Insolvency","href":"/transactions/investor-restructuring-bankruptcy-insolvency"}]},{"name":"Portfolio and Asset Management","links":[{"name":"Raising a Fund","href":"/asset-management/debt-raise"},{"name":"Asset Lifecycle Management","href":"/asset-management/financing"}]},{"name":"Infrastructure Procurement","links":[{"name":"Feasibility Study","href":"/tender/feasibility-study"}]},{"name":"Post Deal Integrations","links":[{"name":"Post Merger Integration","href":"/integrations/post-merger-integration"}]}]},{"name":"By industry","links":[{"name":"Financial Services","href":"/financial-services-insurance"},{"name":"Real Estate","href":"/commercial-real-estate"},{"name":"Consumer Retail","href":"/consumer-retail"},{"name":"Healthcare","href":"/healthcare"},{"name":"Technology","href":"/technology-media-telecom"},{"name":"Energy and Industrials","href":"/energy"},{"name":"Mining","href":"/metals-mining"},{"name":"Oil and gas","href":"/oil-gas"},{"name":"Utilities and Infrastructure","href":"/utilities-infrastructure"}]},{"name":"By role","links":[{"name":"Companies","href":"/companies"},{"name":"Deal Advisors","href":"/advisors"},{"name":"Financial Sponsors","href":"/financial-sponsors"},{"name":"Procurement Advisors","href":"/procurement-advisors"},{"name":"Investment Banking","href":"/Investment-Banking"}]}],"link":"/features/data-rooms"},{"name":"Virtual Data Room","categories":[],"link":"/features/data-rooms"}]}},{"type":"Templates","name":"DetailView","props":{"title":"Virtual Data Rooms","subtitle":"Are you ready for your next deal?","intro":"Here’s all you need to know about Virtual Data Rooms and how they are key to business success. Ansarada are here to unveil the myths \u0026 mysteries of Virtual Data Rooms, answer your frequently asked questions, compare providers, and take you through important checklists for companies and advisors."}},{"type":"Components","name":"CtaTextMini","props":{"children":"ADVISORS: Get a quote online + free data room in a few minutes","background":"Dark","firstCtaBtn":{"text":"Get a quote now.","href":"/quote"}}},{"type":"Components","name":"Video","props":{"title":"Drive smarter outcomes","intro":"Confidently get ready for and achieve critical business outcomes with the world\u0027s smartest Virtual Data Room.","wistiaId":"1jehq57zls","background":"Default"}},{"type":"Components","name":"RichText","props":{"children":"\u003ch3\u003e\u0026nbsp;\u003c/h3\u003e\r\n\r\n\u003ch2\u003eWhat is a virtual data room?\u003c/h2\u003e\r\n\r\n\u003cp\u003eA virtual data room (VDR) is a virtual space that acts much like a physical data room except that all data is hosted securely online with security controls over information and reporting on usage. In the days before virtual data rooms, M\u0026amp;A potential buyers would need to visit an actual room in person to review stacks of critical documents and paperwork. Today, multiple potential buyers can access confidential information simultaneously online.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cbr /\u003e\r\nLearn more \u0026ndash; \u003ca href=\u0022~/what-is-virtual-data-room\u0022\u003eWhat is a Virtual Data Room\u003c/a\u003e?\u003c/p\u003e\r\n\r\n\u003ch2\u003e\u0026nbsp;\u003c/h2\u003e\r\n","background":"Medium"}},{"type":"Components","name":"TextAndImage","props":{"title":"Why use a virtual data room?","intro":"From M\u0026A through capital raises, audits, strategic reviews and tenders, material outcomes depend on virtual data rooms. But data rooms aren’t created equal. \r\n\r\nWhat sets a modern data room apart from legacy rooms:","image":"/getmedia/93f9b100-86ad-4c06-8447-a7ae5497e591/2022_Deals_VDR_Security.png","content":[{"title":"More than storage and file sharing","children":"\u003cp\u003e\u003ca href=\u0022~/data-room-software\u0022\u003eData Room software\u003c/a\u003e isn\u0026rsquo;t just about collecting, collating and storing information. Modern Virtual Data Rooms integrate with other platforms to allow two-way syncing and drag-and-drop functionality that can get a room up and running in minutes. Granular access privileges, print and save controls, tracking of all actions, reporting and sophisticated Q\u0026amp;A enables seamless collaboration. Artificial intelligence powers and automates smart analytics on the motives and behaviour behind people\u0026rsquo;s activity.\u003c/p\u003e\r\n"}],"background":"Low","position":"Left","alt":"More than storage and file sharing"}},{"type":"Components","name":"TextAndImage","props":{"image":"/getmedia/7d1c5e88-fc30-4e19-a3c7-ec11a69a04a4/2022_Deals_AI_Reports_BES.png","content":[{"title":"More than manual labour and guesswork","children":"\u003cp\u003e\u003ca href=\u0022~/due-diligence/ai\u0022\u003eArtificial Intelligence\u003c/a\u003e and automated scorecards not only automate reporting, they predict outcomes with 97% probability within seven days when using a virtual data room for selling an asset. Workflows and processes developed by experts enable advisors and companies to prepare for deals fast and get to work immediately on driving their desired outcome. This saves significant time and money compared to generic tools and processes. Pathways that are reverse engineered from thousands of deals outline what is required - in quantity and quality - in a path to follow for proven success in critical transactions and deals. Only highly advanced data rooms remove the guesswork as to what documents and steps are needed to prepare for and complete a transaction in line with an investor\u0026rsquo;s or buyer\u0026rsquo;s requirements.\u003c/p\u003e\r\n"}],"background":"Black","position":"Right","alt":"More than manual labour and guesswork"}},{"type":"Components","name":"TextAndImage","props":{"image":"/getmedia/c4d9bd3f-ad77-42a3-bc40-ba969c1c98a8/2022_Deals_Manage_Q-A_Subjects_DD_Final.png","content":[{"title":"More than a transaction tool","children":"\u003cp\u003eModern data rooms position you to get ready, run and realize value from more than just an M\u0026amp;A deal, asset sale or IPO. Companies lower the cost of ownership and leverage data room capabilities for instilling operational discipline, governance and risk management around material information necessary for audits, compliance, tenders, post deal integrations, readiness, investor reporting, board communication and more. Lack of functionality, no integration with cloud storage, complexity of use and pricing based on information limits imposed by legacy rooms - all combine to create roadblocks for companies to prepare for and achieve optimal outcomes.\u003c/p\u003e\r\n"}],"background":"Low","position":"Left","alt":"More than a transaction tool"}},{"type":"Components","name":"TextAndImage","props":{"image":"/getmedia/0e01e748-e208-485e-8115-4b9c29ea50b3/2022_Deals_Workflow_Comment-Notifications.png","content":[{"title":"Unlimited users, unlimited possibilities","children":"\u003cp\u003eAdvisors can now count on Ansarada as an essential tool for total transaction management across the complete deal lifecycle - from marketing to preparation to execution and post-deal integration. The new \u003ca href=\u0022~/features/deal-workflow\u0022\u003eDeal Workflow\u003c/a\u003e tool will keep all team members working cohesively and strategically, which is why we\u0026rsquo;ve enabled our pricing to include unlimited users. Now you can invite as many users as you like.\u003c/p\u003e\r\n"}],"background":"Black","position":"Right","alt":"More than limits on data size"}},{"type":"Components","name":"CardsWithImage","props":{"title":"Common uses for Virtual Data Rooms","theme":"Citrus","isCarousel":true,"cards":[{"title":"Mergers \u0026 Acquisitions","description":"Buy-side and sell-side companies, as well as deal advisors, use Virtual Data Rooms for secure file sharing between parties and conducting M\u0026A due diligence.","href":"http://ansarada.com/mergers-acquisitions","image":"/getmedia/61c9d9f2-bf47-4b86-b16f-dae4d79ced83/2022_Regulatory_Due_Diligence_Stock_Image.jpg"},{"title":"Capital Raising","description":"Startups and entrepreneurs use the secure environment of a Virtual Data Room to share details about their business with investors in order to raise capital.","href":"https://www.ansarada.com/capital-raise","image":"/getmedia/cdede02a-b078-4674-afda-0593beaedde8/5-capital-raising-tips-blog.jpg"},{"title":"IPO","description":"Virtual Data Rooms are an important part of preparing a company for its Initial Public Offering (IPO).","href":"https://www.ansarada.com/transactions/ipo","image":"/getmedia/a2803264-df50-4ba0-8485-18939dc8bb29/2022_Deals_IPO_3.jpg"},{"title":"Corporate Restructure","description":"When companies restructure, advanced Virtual Data Room software like Ansarada can facilitate the process and bring peace of mind to key stakeholders.","href":"https://www.ansarada.com/restructure","image":"/getmedia/160fa557-a33d-4ddd-a8bb-db03292bd23f/Ansarada_Corp_develp_bloomberg_280x720.jpg"},{"title":"Business Sale","description":"As with a merger, preparing your business for sale requires extensive documentation and information gathering and sharing as part of the due diligence process.","href":"https://www.ansarada.com/business-exits/selling-a-business","image":"/getmedia/7dd9fcf1-2dd5-4984-9c77-1f9ba7355d86/2022_BusinessExits_Checklist_SEO_5.jpg"},{"title":"Post M\u0026A Integration","description":"For successful post merger integration, it’s important to understand in advance how synergies can be realized to their full extent. VDR solutions play a key role here.","href":"https://www.ansarada.com/integrations/post-merger-integration","image":"/getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg"},{"title":"Strategic Review","description":"For organizations undergoing a strategic review, an advanced VDR like Ansarada can provide an automated checklist of areas to analyze. ","href":"https://www.ansarada.com/transactions/strategic-review","image":"/getmedia/53484563-82b1-44aa-a470-d3a409833fea/AdobeStock_1.jpeg"}]}},{"type":"Components","name":"MerchBar","props":{"title":"Start for free today, no credit card required","introText":"\u003cp\u003eAchieve better outcomes with the most advanced Virtual Data Room\u003c/p\u003e\r\n","ctaText":"Try now for free","image":"/getmedia/a1783126-54a6-4abe-aca7-bb3062e717f4/def-02.png","ticks":["Simpler","Smarter","Safer"],"href":"https://www.ansarada.com/freemium-signup/corporate"}},{"type":"Components","name":"RichText","props":{"children":"\u003ch2\u003e\u0026nbsp;\u003c/h2\u003e\r\n\r\n\u003ch2\u003eWho uses Virtual Data Rooms?\u003c/h2\u003e\r\n\r\n\u003cp\u003e\u003cbr /\u003e\r\n\u003cstrong\u003eInvestment bankers:\u003c/strong\u003e Investment banking processes like IPOs demand huge amounts of information sharing.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eVCs \u0026amp; private equity firms:\u003c/strong\u003e Often assessing many transactions at once, VDRs facilitate the organization and sharing of reams of data.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eAuditors \u0026amp; regulators:\u003c/strong\u003e Regulators use the file sharing services within a secure VDR to review and audit company information.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eLawyers:\u003c/strong\u003e Lawyers use VDR in their day-to-day job of advising corporate clients on transactions and ensuring legal compliance.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eStartups: \u003c/strong\u003eSmart startups use VDR as an online repository of important company information so that they\u0026rsquo;re always ready for a raise.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eBusiness leaders:\u003c/strong\u003e CFOs are able to view all critical company information at a glance within a VDR to ensure the business is always positioned for growth.\u003c/p\u003e\r\n\r\n\u003ch1\u003e\u0026nbsp;\u003c/h1\u003e\r\n","background":"Dark"}},{"type":"Components","name":"ExpanderLinkList","props":{"title":"Virtual Data Room Q\u0026A","intro":"Got a burning question about virtual data rooms? It may have been asked already before. Find all your data room questions answered right here.","panels":[]}},{"type":"Components","name":"Expander","props":{"title":"What is a Data Room?","children":"\u003cp\u003eA data room is a physical or virtual space where one party can disclose confidential information in a controlled manner to a number of other interested parties. Data rooms are used frequently during mergers and acquisitions (M\u0026amp;A) where a seller and their advisors need to facilitate due diligence and reveal information about their company or asset to several interested buyers at the same time.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003cbr /\u003e\r\nLearn more \u0026ndash; \u003ca href=\u0022~/what-is-data-room\u0022\u003eWhat is a Data Room\u003c/a\u003e?\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"Why use a Virtual Data Room during M\u0026A?","children":"\u003cp\u003eData Rooms make the entire M\u0026amp;A due diligence process easier, more efficient and safer for everyone involved. They allow the sell-side party to keep full control over how and when information is revealed and to whom. The sell-side can also manage all communication with their bidders through the Virtual Data Room. When the deal is done, they offer a full audit trail of disclosure through a single digital archive of all activity.\u003c/p\u003e\r\n","theme":"Medium"}},{"type":"Components","name":"Expander","props":{"title":"What is due diligence?","children":"\u003cp\u003e\u003ca href=\u0022~/due-diligence\u0022\u003eDue diligence\u003c/a\u003e, as it relates to M\u0026amp;A, involves the disclosure of information by the sell-side to prospective parties. It is the process to ensure each party involved is exposed to all relevant facts before making any final decisions on the deal.\u003c/p\u003e\r\n\r\n\u003cp\u003eThe term originated in the United States Security Act 1933, where any broker accused of inadequate disclosure was protected from liability if they could demonstrate that they had performed due diligence. Naturally, to avoid risk this practice soon became the industry standard.\u003c/p\u003e\r\n\r\n\u003cp\u003eIt is now the norm for companies to make a legal and voluntary disclosure of all sorts of information to help potential buyers form a clear picture of their current operations and future prospects. Interested parties are then able to make informed and intelligent business decisions.\u003c/p\u003e\r\n","theme":"Medium"}},{"type":"Components","name":"Expander","props":{"title":"What happens during due diligence?","children":"\u003cp\u003eDocuments concerning the past, present, and future prospects of the business are made available to each bidder during due diligence. The aim is to be as open and transparent as possible, while still protecting the interests of the business.\u003c/p\u003e\r\n\r\n\u003cp\u003eCare needs to be taken, as interested parties could include the seller\u0026rsquo;s direct competitor or perhaps a new company entering the industry. Equally, the deal may at any time fall through or be called off. In the case where the deal does successfully go through, there is a duty of care to ensure that unsuccessful bidders aren\u0026rsquo;t left with information that could be used against the new owner.\u003c/p\u003e\r\n\r\n\u003cp\u003eFor this reason, extremely sensitive information may be held back until the final stages of negotiation when it is clear which bidders are serious about making a deal.\u003c/p\u003e\r\n\r\n\u003cp\u003eLearn more \u0026ndash; \u003ca href=\u0022~/due-diligence/process\u0022\u003eDue Diligence Process\u003c/a\u003e\u003c/p\u003e\r\n","theme":"Medium"}},{"type":"Components","name":"Expander","props":{"title":"Is there really any difference between Data Room providers?","children":"\u003cp\u003eYes! There are many products on the market that often get labelled as \u0026lsquo;data rooms\u0026rsquo; but are in fact more like simple file sharing. When it comes to M\u0026amp;A, they are ill-equipped to offer the level of security, collaboration tools, reporting and flexibility needed in the typical high risk low trust environment of M\u0026amp;A due diligence with bidders who can be the selling companies direct competitors.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eProducts can vary from the very basic, with minimum security and rudimentary filing structure and navigation, to more sophisticated, highly secure and at times, very complex setups. Going with generic file sharing and storage tools is a false economy as the lack of features creates inefficiencies that result in higher transaction costs and waste time of busy management teams who should be maximizing focus on running the business while a transaction is occurring.\u003c/p\u003e\r\n\r\n\u003cp\u003eLearn more \u0026ndash; \u003ca href=\u0022~/virtual-data-room-providers\u0022\u003eVirtual Data Room Providers\u003c/a\u003e.\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"Why not just use a basic data room for deals like M\u0026A?","children":"\u003cp\u003eBasic data rooms are great for sharing files between offices and disclosure.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eHowever, during M\u0026amp;A when a seller wants greater control over who sees what and when, with greater visibility over potential buyer behaviour in the data room it pays to invest in a data room built with the specific M\u0026amp;A workflow and process in mind.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAt first glance, it might seem that a simple secure environment is all that is needed to share documents during your deal. However, beyond document storage you need to consider how easy it is to upload and download documents, to integrate with Excel and email, to set security for different users, to change access quickly if the mood changes during negotiations, to shut down access in an instant if the deal is called off, to analyze reports to focus on risks, and to restrict access to some parties and not all - for instance, if a close competitor is in your data room. Even seemingly simple things like how documents are indexed and numbered can cost hours and thousands of dollars, whereas a data room can do this automatically to best practice standards that advisors and investors require.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn short, the impact on every users experience for both buy side and sell side teams translates into greater efficiency, confidence and outcomes or significant frustrations, stress, risk and inefficiency. The right tool for the job at hand is a critical decision.\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"What are the risks in using a file sharing system vs a fully fledged Data Room?","children":"\u003cp\u003eSimple systems are intended for simple usage. They can fast become a headache when used for anything more. Limited functionality can cause a huge waste of time and potential security issues for all involved.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nLearn more \u0026ndash; \u003ca href=\u0022~/virtual-data-room-security\u0022\u003eHow Secure is a Virtual Data Room\u003c/a\u003e?\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"Why use a data room such as Ansarada designed for deals like M\u0026A and raising capital?","children":"\u003cp\u003eBy using a specialist data room, you will find features built specifically to make the M\u0026amp;A due diligence process easier and more secure. What you won\u0026rsquo;t find is a bunch of stuff you will never use cluttering up the page and slowing down the system.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThat means potential buyers accessing your data room will see a professional looking system where they can find the information they need to make their decision fast.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eGreat news if you are the one selling!\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"What happens during Q\u0026A?","children":"\u003cp\u003eDuring M\u0026amp;A, once your data room is up and running, your ability to keep the deal running smoothly will largely revolve around \u003ca href=\u0022~/features/due-diligence-question-answer\u0022\u003edue diligence Q\u0026amp;A\u003c/a\u003e. Q\u0026amp;A (questions \u0026amp; answers) is where interested buying parties ask the seller and their advisors a number of questions to decide on the value and attractiveness of the company to be sold. Questions typically relate to documents that have been made available for review through the data room. Answers are often drafted by advisors or subject matter experts in the business and then sent to senior managers for approval. Given the sensitive nature of questions subjects, like HR employment agreements, it is essential that access to subjects can be restricted to both buy and sell side users. Allowing bidders to upload questions in bulk from excel templates and export too is another essential feature in modern Q\u0026amp;A workflow for deals.\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"What\u0027s the best way to manage Q\u0026A?","children":"\u003cp\u003eSome people choose to run Q\u0026amp;A outside the data room using complex Excel spreadsheets passed back and forth over email. On each buy-side team, long lists of questions are compiled and sent to someone on the sell-side. That person then has to review the list and send out clusters of questions to different people in their team to review and respond to. When they receive answers bit by bit from different people they have to continually update their spreadsheet and forward the relevant answers to the relevant buyers. If this sounds like a chore, then you would be right! It\u0026rsquo;s the single, most time-consuming part of the M\u0026amp;A process. This is where \u0026lsquo;M\u0026amp;A\u0026rsquo; can equal \u0026lsquo;Misery \u0026amp; Angst\u0026rsquo;!\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThis method is complex, laborious and risky, with question and answers often getting duplicated. There\u0026rsquo;s the continual risk of sending the wrong information to the wrong person, potentially outdated spreadsheets being in circulation and the creation of an understandably complicated audit trail across numerous email accounts. It can be overwhelming.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eThankfully there is a better way. With all Q\u0026amp;A-related documents being held within the data room, it makes sense to run Q\u0026amp;A here as well. Ansarada offer a Q\u0026amp;A process designed exclusively for M\u0026amp;A to help centralise Q\u0026amp;A workflow and make life easier and safer on both sides of the deal.\u003c/p\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"What should I look out for when choosing a Data Room for M\u0026A?","children":"\u003cp\u003e\u003cstrong\u003eAccess\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eCan you easily connect your data room to drag \u0026amp; drop or automatically import documents from other systems and Cloud storage solutions?\u003c/li\u003e\r\n\t\u003cli\u003eWill documents imported from Cloud storage solutions automatically sync for constant updating?\u003c/li\u003e\r\n\t\u003cli\u003eHow easy is it to open and view documents?\u003c/li\u003e\r\n\t\u003cli\u003eDo you need to download any sort of viewing software?\u003c/li\u003e\r\n\t\u003cli\u003eCan you and your potential bidders access the data room from all operating systems and devices with the same ease or are there any restrictions/caveats?\u003c/li\u003e\r\n\t\u003cli\u003eHow fast and easy it is to change access by user or user group if needed?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eFlexibility\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eCan you change who sees what, or do blanket security settings apply?\u003c/li\u003e\r\n\t\u003cli\u003eDo you have flexibility on watermarking, document access, printing, saving, revoking access by user?\u003c/li\u003e\r\n\t\u003cli\u003eIs the system easily scalable to suit any size deal?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eEase of use\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHow fast and easy is it to get the data room up and running?\u003c/li\u003e\r\n\t\u003cli\u003eHow easy will it really be for multiple users to log in from different time zones and operating systems?\u003c/li\u003e\r\n\t\u003cli\u003eHow intuitive is the system to navigate around?\u003c/li\u003e\r\n\t\u003cli\u003eWhat systems are in place to help save time, such as bulk upload and download?\u003c/li\u003e\r\n\t\u003cli\u003eDoes the Room come pre-provisioned with workflows and processes?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eControl\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHow much control can the data room offer over workflow?\u003c/li\u003e\r\n\t\u003cli\u003eHow easy is it to get a clear overview of all activity within the data room?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eSearch\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHow sophisticated is the search facility?\u003c/li\u003e\r\n\t\u003cli\u003eCan you search within documents as well as across headlines?\u003c/li\u003e\r\n\t\u003cli\u003eCan you search for terms within PDFs as well as Microsoft Office documents?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eReporting\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eWhat reporting tools are available?\u003c/li\u003e\r\n\t\u003cli\u003eWhat format will reports come in?\u003c/li\u003e\r\n\t\u003cli\u003eDoes the Room use AI to automatically predict outcomes and score activity?\u003c/li\u003e\r\n\t\u003cli\u003eAre easy-to-view and use dashboards included?\u003c/li\u003e\r\n\t\u003cli\u003eDoes the Data Room feature scorecards that automatically show you how your transaction is progressing and the status of documents?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eQ\u0026amp;A for M\u0026amp;A\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHow easy would it be to run Q\u0026amp;A through the data room?\u003c/li\u003e\r\n\t\u003cli\u003eCan you easily create scorecards and templates for the transaction?\u003c/li\u003e\r\n\t\u003cli\u003eWill you still need to use email and spreadsheets for tracking and Q\u0026amp;A?\u003c/li\u003e\r\n\t\u003cli\u003eCan you easily assign people to review documents, Q\u0026amp;A and information?\u003c/li\u003e\r\n\t\u003cli\u003eDoes the Data Room offer threaded commenting?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eSupport\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eDoes the data room offer 24/7/365 support if needed?\u003c/li\u003e\r\n\t\u003cli\u003eWhere is the support based geographically?\u003c/li\u003e\r\n\t\u003cli\u003eWhat kind of support is available \u0026ndash; just technical, or is more strategic expert support available?\u003c/li\u003e\r\n\t\u003cli\u003eHow fast will they respond to your enquiries? In what format?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003ePricing\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHow is the cost of your data room calculated?\u003c/li\u003e\r\n\t\u003cli\u003eAre there any additional fees that could potentially be added as the project moves forward?\u003c/li\u003e\r\n\t\u003cli\u003eWhat happens if your deal gets delayed or even cancelled?\u003c/li\u003e\r\n\t\u003cli\u003eWhat happens if you exceed information limits?\u003c/li\u003e\r\n\t\u003cli\u003eWhat happens if you need to scale-up or scale-down users?\u003c/li\u003e\r\n\t\u003cli\u003eCan you get access to monthly pricing?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eSecurity\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eWhat independent security accreditation does the provider have?\u003c/li\u003e\r\n\t\u003cli\u003eWhat other security measures are in place to keep data from falling into the wrong hands?\u003c/li\u003e\r\n\t\u003cli\u003eHow foolproof is the audit trail?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eExperience\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eWhat experience does your provider have in the M\u0026amp;A space?\u003c/li\u003e\r\n\t\u003cli\u003eHave they ever worked on a deal like yours before?\u003c/li\u003e\r\n\u003c/ul\u003e\r\n"}},{"type":"Components","name":"CtaText","props":{"title":"Have you got the right room for the job?","children":"From M\u0026A through capital raises, audits, strategic reviews and tenders, material outcomes depend on data rooms.","background":"Medium","firstCtaBtn":{"text":"Download our VDR guide and checklist","variant":"Outlined","ctaHref":"https://www.ansarada.com/virtual-data-room-101"}}},{"type":"Components","name":"ExpanderLinkList","props":{"title":"Data Room Checklists","intro":"A simple guide to selecting, buying and running a virtual data room.","panels":[]}},{"type":"Components","name":"Expander","props":{"title":"Quick advisor checklist","children":"\u003cp\u003eFor a comprehensive checklist, chat to an Ansarada advisor. Here is a sample of the most basic checklist you should address when selecting a data room:\u003c/p\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eDoes the vendor offer 24x7x365 support and has a dedicated customer support person available for training and guidance? \u003c/strong\u003eAnsarada enables you to select the support offering best suited to your needs and stage. Our team has supported thousands of people, from those who are first timers through to the world\u0026rsquo;s most sophisticated dealmakers.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eWill you be charged for the data you load? \u003c/strong\u003eMost rooms exceed the data limits and prices quoted resulting in pricing surprises. Don\u0026rsquo;t pay for data - it is critical to securing an optimal outcome and you shouldn\u0026rsquo;t be worrying about it.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eAre pricing and feature packages scalable and flexible? \u003c/strong\u003eMost events run longer than nine months and the number of guests will change during this timeframe. Most events also require security and reporting that generic file sharing and storage tools can\u0026rsquo;t deliver. Ansarada enables you to pay for as little as one month, or buy an annual plan with significant discounts. Extra features and users can be added as needed, and the number of guest users is unlimited too.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eWhat security standards and features does the room satisfy?\u003c/strong\u003e Most legacy room vendors quote a range of security features that are standard. When looking for ISO 27001 compliance, don\u0026rsquo;t be faked out. Ask for the vendor\u0026#39;s \u0026lsquo;Statement of Applicability\u0026rsquo; for their ISO 27001 certification as an indication of total security. Ansarada complies with 113 controls under this standard and has passed external audits against them for 9 years straight.\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003eAlso, look for features that ensure critical security functionality is available - such as the ability to control document access, printing and saving in their native format. The ability to track, report on usage and destroy downloaded documents you may let people temporarily save remotely is also essential. Doing all this in native formats like Microsoft Excel is essential too, otherwise conversion to an online viewer can make it unusable. Check how easy the security controls are to understand and use too. Nothing frustrates people more than overly complex controls.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eAre core functions like Q\u0026amp;A automated \u0026amp; modernized? \u003c/strong\u003eMost legacy rooms offer basic Q\u0026amp;A with limited workflow flexibility, role allocation, commenting, collaboration, reporting and security controls on their Q\u0026amp;A facilities. All this restricts their usage and introduces risks and inefficiency.\u0026nbsp; With more than 70% of deal-time spent on Q\u0026amp;A, look for a data room that nails this. Advanced data rooms integrate with Excel, allowing importing of pre-written questions a breeze, and exporting out for reporting, proof of disclosure and compliance easy too. 38% of all actions in the Q\u0026amp;A process involve getting answers reviewed and approved before disclosure, and 90% of all questions take up to six interactions to answer. Q\u0026amp;A that allows an answering and approving of answers via email simplifies and accelerates this critical process, especially for senior executives. Ansarada\u0026rsquo;s advanced Q\u0026amp;A puts you in total control and reduces the workload to a fraction of the time.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eEnsure compliant procurement policies and recommendations. \u003c/strong\u003eVendor incentives thrown at advisors by legacy data room providers do not meet many current procurement and compliance policies. If you\u0026#39;re an advisor, ensure you are making a fair and independent recommendation to your client. If you\u0026rsquo;re a company, make sure you are getting recommended to go with the solution that will serve you best based on service, price, features, security and ease of use - not on entertainment and incentives given to advisors that you end up paying for.\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n"}},{"type":"Components","name":"Expander","props":{"title":"Quick company checklist","children":"\u003cp\u003eCompanies often receive multiple-bid quotes from advisors on rooms. Here are a few of the questions to ask:\u003c/p\u003e\r\n\r\n\u003col\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eWill there be any pricing surprises and cost overruns? \u003c/strong\u003ePredictable pricing based on a monthly or annual subscription will reduce the risks and enable you to grow the room as your need and opportunity grows.\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eAre there purpose-built tools for you and advisors to make preparation for deals and projects easier? \u003c/strong\u003eLook to start work in a data room platform as quickly as possible. This will expose sources of value and gaps faster. You can track towards outcomes and collaborate with advisors efficiently. Flexible pricing and Cloud connections to major services such as Google and Dropbox makes it easy to get going.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eCan AI, advanced Q\u0026amp;A, and Pathways make the process more cost efficient? Eliminate risks? \u003c/strong\u003eHelp make smart decisions? How will your virtual data room boost your team\u0026rsquo;s productivity by enabling processes to be standardized and scaled? What risks and extra costs will you incur without these?\u0026nbsp;\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eHow can you be assured of compliance and probity - even on documents downloaded from the room? \u003c/strong\u003eMost virtual data rooms offer a degree of security. Ask for ISO27001 compliance and a statement of applicability against it to quickly assess the comprehensiveness of the vendors security controls.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eIs reporting based on subjective data, rather than AI driven insights? \u003c/strong\u003eDoes the data room offer AI-powered scoring of bidders engagement levels? Advances in AI enable you to predict the outcome of a material event with 97% probability by day seven. This same capability enables you and advisors to focus on the right people and eliminate people not engaged fully in your transaction.\u0026nbsp;\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003e\r\n\t\u003cp\u003e\u003cstrong\u003eHow has the recommender benefited from the room vendor? \u003c/strong\u003eData room vendors offer advisors a range of incentives to recommend rooms. These range from tickets to sports games to other benefits. Ansarada operates to strict procurement and professional standards to ensure integrity. Ensure your recommendation of a room is not being made unethically and outside your procurement policies.\u003c/p\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ol\u003e\r\n"}},{"type":"Components","name":"CtaText","props":{"title":"Aren\u0027t you just a little bit curious?","children":"Try now for free. Open a free Data Room to get started - no credit card required.","background":"Dark","firstCtaBtn":{"text":"Try now for free","variant":"Accent","ctaHref":"https://www.ansarada.com/freemium-signup/corporate"}}},{"type":"Templates","name":"Footer","props":{"facebookHref":"https://www.facebook.com/AnsaradaPlatform","twitterHref":"https://twitter.com/ansarada","linkedInHref":"https://www.linkedin.com/company/ansarada","youtubeHref":"https://www.youtube.com/user/ansarada","privacyHref":"/privacy","legalHref":"/legal-policies","linkGroups":[{"name":"Community","links":[{"name":"Blog","href":"/blog"},{"name":"Events","href":"/events"},{"name":"Success Stories","href":"/customers"}]},{"name":"Company","links":[{"name":"About","href":"/about"},{"name":"Virtual Data Rooms","href":"/virtual-data-rooms"},{"name":"Help Centre","href":"/help-centre"},{"name":"Resources","href":"/resources"},{"name":"Careers","href":"/Careers"},{"name":"FAQs","href":"/faqs"},{"name":"Contact us","href":"/contact"},{"name":"Pricing","href":"/pricing"}]}],"currentYear":2025,"pardotFormUrl":"https://go.ansarada.com/landing-iframe.html?formid=1013\u0026formstyle=bpxform_kentico1col-footer\u0026noredirect=true"}}]}), document.getElementById("react_0HNAF4K7FQFCE")); </script> </body> </html>