4 Common Uses For a Virtual Data Room
A virtual data room, also known as a VDR is a secure solution for sharing and securing confidential documents. Investment bankers are the most frequent users of this technology, however it is a viable option for companies in all industries. Here are some of VDR’s most frequently used applications:
M&A due diligence
Merging with or purchasing another business requires a huge amount of documentation that must be shared, typically with third parties, such as auditors and regulatory bodies. The M&A process is made much easier and faster when you have access to a centralized, secure repository of this information.
Legal cases
Legal processes require large volumes that are highly sensitive or confidential. Legal teams need a VDR as these documents can be easily lost or stolen. VDRs provide lawyers and regulators the ability to access documents remotely without any compromise to security.
Real estate
Offline sharing and signing important documents can be a lengthy process. With the electronic signature feature that most VDR providers provide the procedure can be streamlined and speeded.