A virtual data room, or VDR is a secure solution for sharing and protecting confidential information. While investment bankers are among the largest users of this technology, the benefits can be utilized by businesses from all industries. Here are a few of the most popular uses for VDRs: VDR:
M&A due diligence
A merger or acquisition by another company requires sharing a great deal of documents, typically with third-party parties such as auditors and regulatory agencies. Being able to access a secure, central repository of all this information can make the M&A process much faster and easier.
The litigation process involves a lot of documents that are highly sensitive or confidential. These kinds of documents can be easily lost or stolen, which is why having a VDR is crucial for legal teams. VDRs make it simple for lawyers and regulators to examine these documents remotely without compromising their security.
Offline sharing and signing important documents can be a lengthy process. This process can be accelerated and made easier with the eSignature feature provided by most VDR providers.