4 Common Uses For a Virtual Data Room
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A virtual dataroom, or VDR is a secure way to share and protect confidential documents. Although investment banks are among the heaviest users of this technology, its benefits are available to companies of all kinds. Here are a few of the most popular uses for VDR: VDR:
M&A due diligence
A merger or acquisition of another company requires a large amount of documentation to be shared, typically with third parties, such as auditors and regulatory bodies. The ability to access an organized, secure repository of all this information helps make the M&A process significantly quicker and less complicated.
Legal Cases
Legal processes require large volumes which are extremely sensitive or confidential. These types of documents can be easily lost or stolen, which is why having a VDR is vital for legal teams. VDRs allow lawyers and regulators to examine the documents remotely, without risking their security.
Real estate
Offline, sharing and signing important documents can be a lengthy process. With the e-signature option that most VDR providers provide, this process can be made easier and accelerated.