A virtual dataroom, also known as VDR, provides the security to share and safeguard confidential documents. Investment board management software bankers are among the most frequent users of this technology but it is also used by enterprises from all sectors. Here are a few of VDR's most commonly used uses:
M&A due diligence
Merging with or purchasing another company will require a massive amount of documentation that must be shared, most often with third-party parties like auditors and regulatory bodies. The M&A process is made quicker and easier when you have access to a central, secure repository of all the information.
Litigation processes involve large volumes that are highly sensitive or confidential. These types of documents can easily be lost or stolen, and therefore having a VDR is crucial for legal teams. VDRs allow attorneys and regulators the ability to access documents remotely without any compromise to security.
Offline, sharing and signing important documents can be a lengthy process. With the e-signature feature that most VDR providers offer the process can be simplified and speeded.