A virtual data room, also known as a VDR is a secure solution for sharing and protecting confidential information. Although investment bankers are among the biggest users of this technology, its advantages can be used by companies of all kinds. Here are a few of VDR’s most frequently used applications:
M&A due diligence
A merger or purchase of another company requires sharing a lot of documents, typically with third-party auditors, such as audits and regulatory agencies. The M&A process is made simpler and quicker when you have access to a central secure repository of the relevant information.
Litigation processes typically require massive volumes of documents that are highly sensitive and sensitive and confidential. These kinds of documents can be easily lost or stolen, so having a VDR is crucial for legal teams. VDRs provide lawyers and regulators the ability to access documents remotely without the risk of compromising security.
Offline sharing and signing important documents can be a long process. This process can be accelerated and simplified with the eSignature feature offered by most VDR providers.