4 Common Uses For a Virtual Data Room
A virtual data room, also known as a VDR is a safe solution for sharing and securing confidential documents. Investment bankers are among the most frequent users of this technology, but it is also used by businesses from all industries. Here are a few of the most popular uses for the VDR:
M&A due diligence
A merger or acquisition of another business requires sharing a large amount of documentation, often with third-party auditors, such as audits and regulatory agencies. The M&A process is made more efficient and speedier when you have access to a centralized secure repository of the information.
Legal cases
Litigation processes involve large volumes which are extremely sensitive or confidential. These kinds of documents are easily lost or stolen, which is why having a VDR is crucial for legal teams. VDRs enable attorneys and regulators to review these documents remotely, without harming their security.
Real estate
Offline, sharing and signing important documents can be a lengthy process. The process can be speeded and simplified by using the eSignature feature provided by a majority of VDR providers.