Virtual data rooms effective software with respect to modern business needs

In this article, we will provide you with the important details about Data Room and define the best VDRon the marketplace. 

Why do we choose Virtual Data Rooms?

The Virtual Data Room (VDR), or transaction room, is a secure online platform for storing and distributing documents. It is typically used during the due diligence process prior to a merger or acquisition to review, exchange, and disclose company records. 

Due to the globalization of business and increased control to reduce costs, virtual data rooms became a good alternative to physical data rooms. They are widely available, instantly accessible, and more secure. As security issues increase and infringement cases increase, VDR vendors are developing better and more reliable databases. 

Data rooms are used for the following purposes: 

  • for strict data confidentiality;
  • initial public offerings (IPOs); 
  • audit operations and partnerships; 
  • businesses that need to work together and share information.

In which organizations is the virtual data room applicable?

So, let`s consider the usage of Virtual Data Room in the business sphere from different points of view. 

  • Financial sector. Companies that work with critical information are in dire need of secure means of delivery of documents and control of access rights to data for branches and external contractors;
  • Design organizations. Such companies often face a situation when a working group needs to provide access to data for a certain period and it is guaranteed to block (revoke) access to documents after the completion of the project;
  • Communication service providers. Telecom operators need tools to protect user data and label documents in accordance with regulatory requirements.
  • Retail enterprises. Retail organizations need to protect data that is on the devices of merchandisers and sales representatives and may have commercial value.

Mergers and acquisitions (M&A) is the most common use of the dataroom providers. These repositories provide the space for the due diligence required at the conclusion of the transaction. These transactions involve a large number of documents, many of which are confidential and contain confidential information. 

Suggesting an initial public offering (IPO) is a difficult task that requires an unimaginable number of documents. Like an audit, transparency is important. Companies need to create, share, store and manage large volumes of documents. 

How to understand that your company needs a virtual room for a long time?

  • If you exchange technical specifications, drawings, or any other documents of commercial value with contractors or customers.
  • If you need to control the document even after it has already been sent and downloaded by a third party.
  • If your staff changes frequently, there is a “turnover” and you want to keep a part of the data secret, even from your own colleagues.

IDeals – the best choice for your business needs. 

IDeals is a leading provider of process management, information security, and comprehensive software services ensuring compliance and accountability that enable business ideas to flourish. As a pioneer in the development of solutions for virtual data rooms, the company provides a secure flow of information that facilitates the implementation of a variety of strategic initiatives – mergers, acquisitions, capital increases, reporting to investors, etc.