A virtual data room is an online repository that allows sharing files with multiple parties. These are used by companies across a variety of industries to share sensitive files, such as intellectual property, and case files. Additionally, they facilitate M&A deals, fundraising and IPOs.
When choosing a VDR, choose one that has a user-friendly interface and features that are easy to use. Robust security features like virus and malware scanning, multifactor authentication and advanced encryption ensure that uploaded documents remain secure. Consider third-party certifications, like SOC, that provide independent verification of a company’s practices. You’ll also want to consider the availability and reliability of customer support.
iDeals is our most trusted partner in virtual data rooms over the last five years. Their software is highly adaptable to our specific needs and they have always acted swiftly when we require assistance.
A VDR is an important tool during due diligence. It gives the sell-side with a secure platform to store documents and prospective investors a single place to review them. A VDR’s activity tracking is detailed and can be useful during fundraising and M&A to assess interest by analysing the documents being reviewed and for how long. Other important functionality includes document watermarking, branding features, and NDAs. A reliable VDR is also expected to integrate with the existing digital tools and support your company’s IT system and business workflows. In addition, it should have flexible permission settings that can be customized to fit the needs of each project.