PRODUCT UPDATES New Feature in Virtual Data Room: Online Document Translation in 59 Languages

Selling a company often involves seeking investors from different countries. But what if we are looking for partners across various regions of the world? This approach increases the chances of successfully closing a deal but requires more extensive preparation. One of these preparations is providing due diligence documents in the investors’ language, or at least in English. Finding a suitable translation agency specializing in technical (legal, financial) translations, and arranging the service itself requires time and significant expense. It also raises concerns about the confidentiality and security of the documents we need to hand over to translators.

The new online document translation feature directly within Fordata VDR addresses these issues, allowing for quick and secure translation of any document without leaving the protected workspace.

This new feature facilitates international transactions without unnecessary delays, offering automatic, instant translation of documents into one of 59 languages.

Fordata AI Translations utilizes state-of-the-art artificial intelligence algorithms to ensure fast, accurate, and fully automated translation of files directly within the Virtual Data Room.

After logging into the Fordata VDR system and opening the selected document, users have the option to translate it into any language of their choice. The translation occurs instantly and automatically. Additionally, the translation is available in a “side-by-side” model, allowing users to compare the original document with the translated version at any time.

Fordata AI Translations supports popular document formats such as PDF, DOC, DOCX, ODT, RTF, and TXT. The feature is also available for files that have been redacted using the AI-Powered Redaction Tool.

With this innovative feature, companies can now focus on the critical aspects of their projects without worrying about language barriers.

One of the key advantages of VDR over other file storage systems is the security of the documents stored within it. Like any new feature added to the VDR, the document translation option is designed with the highest level of information protection in mind. Translations are performed within the platform, eliminating the risk of data leakage or interception by third parties. All operations are encrypted, and access to translated documents is restricted to authorized users only.

Introducing the online document translation feature is another step towards maximizing efficiency in document handling within the Virtual Data Room. Here are some benefits this solution offers:

• Time Savings: Automatic translations available directly in the VDR save time previously spent using external translation services.
• Cost Savings: The automatic document translation feature eliminates the need for expensive translation agencies, which often involved additional costs and lengthy turnaround times, with variable expenses depending on the number and complexity of documents.
• International Collaboration: Companies operating in international markets can now more easily collaborate with foreign partners, eliminating language barriers.
• Security: All translations occur within the secure platform, minimizing the risk of data leakage.

Automating translations in Fordata VDR not only saves time but also reduces expenses previously spent on professional translation services. With AI Translations, you can focus on the key aspects of your transactions, eliminating language barriers and ensuring document compliance with local market requirements. Concentrate on what matters most—achieving your business goals—while leaving the translations to advanced technology.

Try the new feature and experience how it can streamline your daily operations in an international environment.