A virtual dataroom, also known as VDR offers a secure way to share and protect confidential documents. Although investment bankers are among the biggest users of this technology, the benefits are available to businesses of all types. Here are a few of the most common uses for VDRs: VDR:
M&A due diligence
A merger or acquisition of another business requires a huge amount of documentation that must be shared, usually with third parties, such as auditors and regulatory bodies. The M&A process is made easier and faster when you have access to a centralized, secure repository of this information.
The litigation process involves a lot of documents which are extremely sensitive or confidential. These kinds of documents are easily lost or stolen, and therefore having a VDR is vital for legal teams. VDRs allow attorneys and regulators to examine documents remotely without any compromise to security.
Signing important documents and sharing them with investors and buyers is often a lengthy process if it is completed offline. With the e-signature feature that most VDR providers provide, this process can be made easier and accelerated.