A virtual data room, or VDR is a safe solution for sharing and securing confidential documents. Although investment bankers are among the biggest users of this technology, the benefits can be used by i was reading this businesses of all types. Here are some of VDR’s most frequently used applications:
M&A due diligence
Merging with or purchasing another business requires a huge amount of documentation that must be shared, usually with third parties such as auditors and regulatory bodies. The M&A process is made much quicker and easier when you have access to a centralized secure repository of all the information.
Litigation processes often involve large volumes of documents that are highly sensitive and confidential. These types of documents can easily be lost or stolen, and therefore having a VDR is very important for legal teams. VDRs allow attorneys and regulators to access documents remotely without risking security.
Sharing and signing important documents with potential buyers and investors is a time-consuming process when executed offline. This process can be speeded and simplified with the eSignature feature offered by most VDR providers.