A virtual dataroom, or VDR is i was reading this a secure way to share and secure confidential documents. Although investment bankers are among the heaviest users of this technology, the benefits can be utilized by businesses from all industries. Here are a few of the most commonly used uses for a VDR:
M&A due diligence
Merging with or buying another company requires a large amount of documentation that must be shared, most often with third-party parties like auditors and regulatory bodies. The M&A process is made more efficient and speedier when you have access to a central secure repository of all this information.
Legal processes require large volumes which are extremely sensitive or confidential. Legal teams need a VDR as these documents can be easily stolen or lost. VDRs enable lawyers and regulators to examine the documents remotely, without risking their security.
Offline, sharing and signing important documents can be a long process. This process can be accelerated and simplified with the eSignature option offered by the majority of VDR providers.