Best Due Diligence Virtual Data Room Software — iDeals
Without a shadow of a doubt, when it comes to conducting big deals, the majority of law firms, banking institutions, brokers, and corporate finance advisers tend to so- called “virtual data rooms” (VDRs). In general, they are used to provide access of all your sensitive data to potential buyers or investors after having signed a so-called “NDA” or in other words, Non Disclosure Agreement. Being similar to physical data rooms, they allow you to store, control, share and track your secure documents in one place, however, in this case not in a land-based venue, but online. Certainly, these cloud solutions are revolutionizing the whole process of transaction and confidential business deals conducting.
A Secure Web Platform to Distribute Confidential Data
These days when it comes to due diligence stage in most transactions, such online docs repositories have become the norm. Commonly, VDRs are special online data repositories with a number of useful features to be used during conducting deals. The key feature of any data room is that it allows securely keeping and sharing extra sensitive data both within one company and between other members of the deal. Unlike any physical VDR, online one gives you the possibility to simultaneously provide your confidential data access to a number of customers. Simply speaking, more than one customer can attend your virtual room at the same time. Moreover, special bank level of security is used to store and share your files. Plus, it allows you to create special groups and set varying levels of control — strict printing, downloading and viewing rights. Therefore, it does not matter which service you choose, you may count on secure file storing and sharing. But, bear in mind that other features among similar services may greatly vary. For example, iDeals data room, unlike all its competitors, provides a number of advanced functions. The main ones are listed below:
· Total control during online due diligence processes. This includes advanced security, such as watermarks and fence view.
· View a full record of files, folders, and group actions. By the way, this is an extremely useful function as it allows you to find out when and which files your customers review. In other words, you can better understand your clients’ needs, intentions and interests.
· Excel editing online. There are three choices here — to allow the customer only view the file, to see the formulas and to edit and see the recalculation.
· Around the clock dedication
· Digital rights management
· Restrict group access by level, date, and IP-address
· Multilingual interface, in particular, English, German, Spanish, Portuguese, Turkish, Chinese, Japanese and Russian
· Login with two-step authentication.
Therefore, as you can now see, iDeals standard features are everyone else premium features. Hence, providing the functionality and usability you’re seeking, ideals virtual data room can certainly become your complete due diligence solution.