Virtual Data Room Providers are the name of software application that serves as an application for secure document storage and sharing. They typically include additional features that speed up due-diligence processes and collaboration in M&A transactions. They include document annotations, Q&A sections, and a variety of third-party integrations to help work flow. VDRs provide audit logs that are detailed and a record of user activity. This improves transparency and security in a deal.
VDRs are often pricier than traditional cloud storage options however, the cost is justified by the high level of service and security they provide. Modern providers offer live chat on their app as well as multilingual phone and email support dedicated teams managers, as well as help centres with product videos. They may also provide advanced tools like secure firewalls and two factor authentication, in addition to regular features like drag and drop.
Life science companies, like biotech and pharma, require reliable protection of their intellectual property. They are more likely to work with partners or raise money, so a robust collaboration tool is essential. VDRs with dynamic watermarking customizable NDAs, as well as permission-based roles enable granular control over access to files.
iDeals is an award-winning provider of virtual data rooms for M&A transactions. Its user-friendly interface is easy to navigate, and the team provides a full support service at every phase of the process. In addition to its basic functionality, it also has a variety of features. VDR is flexible and has leading features like an FAQ section that promotes collaboration and communication.
