4 Common Uses For a Virtual Data Room
A virtual dataroom, also known as VDR offers the security to share and safeguard confidential documents. Investment bankers are the most frequent users of this technology but it is a viable option for businesses from all industries. Here are a few of VDR's most common uses:
M&A due diligence
A merger or acquisition of another company requires a huge amount of documentation to be shared, usually with third parties like auditors and regulatory bodies. The M&A process is made easier and faster when you have access to a centralized, secure repository of all the information.
Litigation processes involve a large amount of documents that are highly sensitive or confidential. Legal teams need a VDR as these documents can be easily lost or stolen. VDRs give lawyers and regulators to examine documents remotely without risking security.
Offline, sharing and signing important documents can be a long process. With the electronic signature feature that most VDR providers provide this process can be simplified and accelerated.