A virtual data room, also known as a VDR, is a secure solution for sharing and protecting confidential documents. Investment bankers are among the most frequent users of this technology, however it is also used by businesses from all industries. Here are a few of the most popular uses for a VDR:
M&A due diligence
A merger or purchase of another company requires sharing a large amount of documents, usually with third-party parties such as auditors and regulatory agencies. Being able to access an organized, secure repository for all of this information makes the M&A process much faster and less complicated.
Legal cases
The litigation process often involves massive volumes of documents that are sensitive and sensitive and confidential. Legal teams need a VDR as these documents can be easily stolen or lost. VDRs allow lawyers and regulators to examine these documents remotely, without risking their security.
Real estate
Offline sharing and signing important documents can be a long process. This process can be speeded and simplified by using the eSignature service offered by most VDR providers.