4 Common Uses For a Virtual Data Room
A virtual dataroom, also known as VDR offers the security to share and protect confidential documents. Investment bankers are the most frequent users of this technology, however it is also used by enterprises from all sectors. Here are some of the VDR’s most popular uses:
M&A due diligence
A merger or purchase by another company requires sharing a large amount of documents, typically with third-party parties such as auditors and regulatory agencies. The M&A process is made quicker and easier when you have access to a centralized secure repository of all the information.
Legal cases
Litigation processes often involve massive volumes of documents that are highly sensitive and confidential. Legal teams require a VDR since these documents can be easily lost or stolen. VDRs make it easy for attorneys and regulators to review these documents remotely, without compromising their security.
Real estate
Offline, sharing and signing websites important documents can be a lengthy process. This process is able to be speeded and simplified with the eSignature option offered by the majority of VDR providers.