Virtual Data Room Providers (VDR) are software applications that serve as a platform for secure store and share documents. They typically have additional features that streamline due-diligence processes and collaboration in M&A transactions. These include document annotations, Q&A sections and a variety of third-party integrations that help work flow. VDRs also offer detailed monitoring and audit logs of user activity that improve the security and transparency of a deal.
VDRs can be more expensive than regular cloud storage solutions however this expense is justified by the quality of security and service they offer. The majority of modern providers provide live chat in-app, phone and email multilingual support, dedicated teams and managers, and help centers with product videos. In addition to the standard features like drag and drop upload, they may also provide advanced tools, such as secure firewalls and two-factor authentication.
Life science companies, like biotech and pharma require a reliable protection of their intellectual property. They are more likely to work with partners or raise money which is why a solid collaboration tool is required. VDRs that have dynamic watermarking, customizable NDA, and permission-based roles provide the control of access to files.
iDeals is a company that provides virtual datarooms for M&A transactions, has been awarded numerous awards. Its user-friendly interface makes it easy to navigate, and its staff offers a comprehensive service throughout each phase of the process. In addition to its basic features, iDeals VDR is flexible and comes with industry-leading features such as the Q&A section, which encourages communication and collaboration.