A virtual data room, or VDR, is a secure solution for sharing and protecting confidential documents. While investment bankers are among the biggest users of this technology, its benefits are available to businesses of all types. Here are some of the VDR’s most commonly used uses:
M&A due diligence
A merger or acquisition of an other company involves sharing a significant amount of documentation, most often with third-party entities such as auditors and regulatory agencies. The M&A process is made simpler and quicker when you have access to a centralized, secure repository of all this information.
Litigation processes involve a large amount of documents that are highly sensitive or confidential. These kinds of documents can be easily lost https://newsoftwarezone.org/best-data-rooms-software-available-on-the-market-today or stolen, which is why having a VDR is very important for legal teams. VDRs offer lawyers and regulators the ability to review documents remotely without any compromise to security.
Offline sharing and signing important documents can be a long process. With the e-signature feature the majority of VDR providers offer, this process can be made easier and accelerated.