A virtual data room, or VDR is a secure solution for sharing and protecting confidential documents. Although investment bankers are among the biggest users of this technology, the benefits can be used by companies from all industries. Here are a few of VDR’s most frequently used applications:
M&A due diligence
A merger or purchase of another business requires sharing a lot of documents, usually with third-party entities such as auditors and regulatory agencies. The M&A process is made quicker and easier when you have access to a central secure repository of all the information.
Litigation processes involve large volumes which are extremely sensitive or confidential. These kinds of documents can easily be lost or stolen, therefore having a VDR is crucial for legal teams. VDRs allow attorneys and regulators to review documents remotely without the risk of compromising security.
Offline sharing and signing important documents can be a lengthy process. This process is able to be speeded and streamlined with the eSignature feature offered by most VDR providers.