The market for virtual data rooms has grown exponentially over the last few years, largely because of the increased demand for secure data rooms from corporate customers. The inevitable shift away from physical and towards virtual data rooms was spurred on by the multitude of features that online platforms provide over and above the typical features supplied by physical data rooms.
Online data rooms, such as iDeals Virtual Data Room drastically simplify the processes involved in large-scale corporate transactions such as loan syndication, deal bidding and capital procurement. They do this by providing an online platform through which multiple parties to the deal can interact and collaborate on shared information, all within a secured and controllable environment so as to ensure the integrity of sensitive company information.
The whole process is placed in the hands of your business as you control who has access to the platform and even what levels of permission they have in terms of being able to view, edit, download and share specific documents. Virtual data rooms allow you to interact and negotiate with various bidding parties at the same time, without compromising your position by exposing too much or too little information at each stage of the deal lifecycle.
Part of the reason behind the explosion in popularity of virtual data rooms is their ability to enhance productivity on deals, thereby expediting the deal timeline and allowing businesses to increase their deal volume and reach. At the same time, virtual data rooms cut costs by allowing businesses to save on unnecessary travel and office space rental usually needed to make cross-border collaboration possible, while also allowing deals to be worked on across multiple different time zones.
One result of the growth in the deal room market is that it has become increasingly difficult and confusing to choose the correct virtual data room provider to meet your business’s needs. One of the industry leading providers, used by multiple companies ranging from KPMG to Toyota is iDeals Virtual Data Rooms. This article gives you an overview of their features and trustworthiness that has made them the first choice among so many businesses.
Security is the primary value proposition of virtual data rooms – without it they would be little more than a fancy social media website.
iDeals Virtual Data Rooms offer enterprise grade security that has been fully certified and that is compliant with various regulations covering the US and the EU. This is achieved by securing and protecting the data that they handle at each and every stage of its lifecycle, from upload, to storage, to download to deletion.
iDeals makes use of their own physical data centres that employ stringent security measures to protect the data from attack or damage. Having their own data centres also allows them to ensure uninterrupted power and minimal downtime.
They also secure personnel access to the online platform by using a variety of features including two-factor authentication, single sign on, IP logging and granular permission settings. Together, these ensure that your data is only seen by those who have been given explicit permission and the platform allows you to monitor and see who has had access to which documents so that you can be sure of your companies’ integrity.
iDeals further provides document security features that can prevent illegal screen capturing and internal data breaching through the use of dynamic watermarking. Documents are also never physically stored on any device and leave no footprint on the web so that information is never put at risk of being compromised. In the unlikely event that it is, documents will remotely back themselves up and shred to prevent unwanted disclosure of information.
On top of their industry-leading backbone of security, iDeals provides a plethora of additional features that aim to make the process of using their virtual data rooms easier and more intuitive. The whole interface is designed to resemble typical file and folder layouts on most computers and tablet devices with the ability to drag and drop files in order to change their location. The platform supports over 25 file formats and is fully integrated into most browsers to ensure a seamless experience.
Their simple user interface goes far in ensuring that employees feel comfortable making the transition into the virtual space and that they intuitively understand how to operate within the platform. This saves on costly training courses and lost productivity due to complexity and iDeals aims to get employees enjoying working on their system.
Unique abilities to fence of portions of the document for the strictest viewing permissions prevent data being photographed or otherwise captured and shared. All documents are also watermarked with the time and name of the person viewing them so that breaches can be swiftly and easily identified and dealt with.
With support on multiple devices, including smartphones, and a host of languages, iDeals caters to every company in every country and in any industry. Its platform can be customised to match company colouring and technical support is provided 24/7.
Why choose iDeals?
iDeals has been trusted by over 20 000 companies worldwide to distribute and secure their company information. Their superior ease of access and ease of use has made them a go-to favourite in the corporate world and when you combine this with the security measures they employ, using iDeals becomes a virtual no-brainer.
The ability to use iDeals on multiple devices, dedicated apps, full control over the deal process, detailed reporting features, 24/7 support and the strong track record that iDeals has in the virtual data room business is all testament to the quality of the service they provide to hundreds and thousands of businesses on a daily basis.
iDeals matches and goes past most if not all other virtual data room providers in what they offer your business. With extensive experience on deals in excess of $1bn, iDeals have consistently proven they are capable to perform at the highest level and are sure not to disappoint when it comes to delivering value for your business.