Vdrs are utilised by companies across many different industries for a variety of purposes. They are utilized in M&A deals as well as to protect intellectual properties. They can also be used by legal counsel, auditors and other external parties. Some companies also use them to share documents with their own employees.
Many companies need to share sensitive data with third parties, but they do not want to risk the possibility that confidential documents fall into the wrong hands. This includes companies that have extremely valuable intellectual property and private data like biotech and pharmaceutical companies sharing formulations, patents, and molecules www.vdrblog.com/who-uses-vdrs/ with outside labs and regulators during clinical trials. In these cases, a vdr with advanced encryption and granular settings for permissions is a great tool to safeguard data.
Accounting firms also scrutinize financial documents such as balance sheets, retained earnings and cash flow statements. These documents typically contain sensitive information that could be damaging to by a competitor. A vdr permits accounting teams to collaborate immediately, while maintaining the privacy of their employees.
Finally, private equity firms and funds frequently upload quarterly and monthly reports to their investors to read. These documents are often quite large and require a lot of organization in order to be reviewed in the time frame required. A vdr has the tools necessary to organize these massive documents in an easily accessible way that is accessible to all. This critical reporting function is executed quickly and efficiently by means of intuitive interfaces and round-the-clock access.