Virtual data rooms are online platforms that enable document storage, sharing, and collaboration–completely remotely. They eliminate the requirement for infrastructure and offer anytime, anywhere access with a high level of security through user permissions and logs. They encourage stakeholders to interact with each other, accelerating the process.
Organizations and businesses use VDRs to keep and share private documents that is important in any business transaction. This includes mergers and acquisitions, due diligence processes and regulatory filings, as well as investor relations, fundraising and other corporate events.
Investment bankers are the most common users of VDRs that assist both the sell-side and buy-side in financial transactions by preparing documentation and facilitating negotiations. They are typically looking for a fast, easy-to-use solution to manage the process.
Life science companies typically deal with sensitive documents like research findings, patents, and clinical trial findings, that need to be stored in an environment of security. This makes them a perfect choice for VDRs.
It is advisable to test features, cost-points security solutions, features, and usability in a free trial. This will help see page you make an informed choice that meets your company’s specific requirements. You should also consider the possibility of customizing features, such as adding watermarks on your data room or branding it, as well as reporting that can be viewed at a glance to give executives from the C-suite an overview to make quick decisions. iDeals includes all these features and more. You can also test the platform by signing up for a free trial.