A virtual data room, or VDR, is a secure solution for sharing and securing confidential documents. Investment bankers are the most frequent users of this technology however it is also utilized by enterprises from all sectors. Here are some of VDR’s most commonly used uses:
A merger or purchase by another company involves sharing a great deal of documents, usually with third-party auditors, such as audits and regulatory agencies. The M&A process is made quicker and easier when you have access to a central, secure repository of all the relevant information.
The litigation process often involves massive volumes of documents that are highly sensitive and confidential. Legal teams need a VDR because these documents are easily lost or stolen. VDRs make it simple for attorneys and regulators to review the documents remotely, without compromising their security.
Offline, sharing and signing important documents can be a lengthy process. With the e-signature feature that the majority of VDR providers offer, this process can be made easier and accelerated.