iDeals Solutions

Virtual Data Room: A Modern Look at Conducting Due Diligence

Blog post   •   Aug 17, 2015 09:22 EDT

Virtual Data Rooms: Changing the Face of Due Diligence

When it comes to due diligence and other financial deals, it is for certain that Internet data rooms have become a commodity these days. Having one is like owning a site: absolutely innovative in 2000, but rather typical in 2015. Indeed, today any trustworthy online data room is able to support you at every step of your deal and it can ensure all your transactions remain stress-free. Simply speaking, VDRs are advanced physical data rooms but located online. However, we have to admit that cloud data rooms boast lots of extensive advantages, such as:

  • Multiple simultaneous and constant access. Many potential buyers and other interested parties can view due diligence data simultaneously at any time, even at night. Thus, your deals can move faster and in a more efficient way.
  • Bank level security and data encryption. That means that all your data are stored and shared in a confidential manner.
  • Full control over your information. You can set various permissions, decide who can view, download or print which files.
  • Multiple projects possibility. You can create various projects within one online repository. 
  • Activity tracking. You can always stay up-to-date with activity in the data room and see who, when and what views and manages.
  • Auto backup. You don’t need to worry about keeping your files up-to-date. They are automatically updated both in the cloud and across multiple devices, if you allow these settings.
  • Bulk uploads. You do not need to spend long hours on uploading, you can upload a dozen of files at the same time.
  • Tangible cost savings. You do not need to spend money on business trips, travel expenses, meetings and etc. You can access the docs you need from any location.
  • Time saving. This includes a number of cases, such as:
    • No need to travel to the physical data room. Instant access to the files you need.
    • Better, faster and more effective cooperation.
    Therefore, benefits of online repositories are obvious. Surprisingly, when it comes to choosing the best virtual data room, lots of businessmen prefer iDeals since it offers an extensive range of services. Below you will see its major benefits:
  • A straightforward user interface
  • Two-factor authentication: password and text message to mobile
  • Drag-and-drop movement of files and folders
  • Advanced activity and audit reports
  • Powerful permissions settings
  • Numerous document-filtering tools
  • Automatic indexing
  • Digital rights management, such as watermark, fence view, and etc.
  • No need to download plugins, or other software
  • View protected documents in their native format without plug-ins 
  • Support of major file formats and incredible Microsoft Office integration.

Hence, all of the mentioned above features help iDeals virtual data room to remain at the forefront of its fiercely competitive marketplace. Consequently, iDeals data room can become your perfect everyday companion for conducting any kind of business deals.