A virtual data room, also known as a VDR is a secure solution for sharing and securing confidential documents. Investment bankers are among the most frequent users of this technology but it is also used by companies in all industries. Here are a few of the most commonly used uses for VDR: VDR:
M&A due diligence
A merger or acquisition of another company requires a huge amount of documentation to be shared, typically with third parties like auditors and regulatory bodies. The ability to access a secure, centralized repository for all this data makes the M&A process significantly faster and easier.
Legal cases
Litigation processes involve large volumes which are extremely sensitive or confidential. These kinds of documents can be easily lost or stolen, which is why having a VDR is vital for legal teams. VDRs allow lawyers and regulators to look over these documents remotely without risking their security.
Real estate
Sharing and signing important documents with potential investors and buyers can be a long process if performed offline. This process is able to be speeded and simplified by using the eSignature option offered by the majority of VDR providers.