What is Virtual Data Room Software (VDR)?
A VDR is an encrypted, online platform that permits third parties to share huge volumes of documents in a safe and simple way during M&A due-diligence and fundraising, legal concerns and other scenarios. The most common use case is to allow potential buyers to view and analyze massive volumes of documentation without worrying about divulging private information. VDRs are therefore valuable for any business that needs to share sensitive data with third parties as part of business transactions.
VDR software offers a variety of features to improve workflows security, collaboration and workflow. Security features like 256-bit encryption, malware and virus scans, two-factor verification, and others ensure that your data is secure. Advanced analysis and reporting tools provide full audit trails of the activity of your files. Additionally, collaboration tools such as Q&A workflows, granular permissions, and document tracking make it easier to communicate during deals.
Certain VDR providers also offer additional services like consultation or training with their standard subscription. These services are useful for those who aren’t familiar with the use of a VDR and need some extra assistance in getting started. Make sure to read reviews before deciding on the provider that offers additional services. Certain review sites are paid for by companies and may contain false or biased reviews.
iDeals, cloud-based virtual room with a drag-and-drop interface, allows users to create a project within 15 minutes. No technical expertise is required. It also boasts a commitment to data privacy and robust integrations with Salesforce, Slack, and Office 365 for ease of use and global accessibility.