A virtual data room, also known as a VDR is a secure solution for sharing and securing confidential documents. Although investment banks are among the most frequent users of this technology, its benefits can be used by companies from all industries. Here are a few of the most frequently used applications for a VDR:
M&A due diligence
Merging with or buying another company requires a huge amount of documentation that must be shared, often with third parties such as auditors and regulatory bodies. Being able to access a secure, centralized repository of all this information makes the M&A process significantly faster and simpler.
Legal Cases
Litigation processes typically require large volumes of documents that are sensitive and confidential. These kinds of documents are easily lost or stolen, and therefore having a VDR is very important for legal teams. VDRs provide lawyers and regulators to review documents remotely, without risking security.
Real estate
Offline, sharing and signing important documents can be a long process. This process can be speeded and simplified by using the eSignature option offered by a majority of VDR providers.
