What is Virtual Data Room Software?

A VDR (Virtual Data Room) is an online platform that is secure and allows for the secure and easy sharing of large amounts of documents with other parties during M&A due diligence, fundraising, legal matters, and more. The most popular use is to allow potential buyers to review large volumes of documentation and analyze the information without worrying about exposing confidential data. VDRs are therefore valuable to any company who needs to share sensitive data with third parties as part of business transactions.

VDR software provides a vast variety of features that can improve workflows as well as security and collaboration. Security features such as 256-bit cryptography, virus and malware scans, two-factor authentication, and many others ensure that your data is always navigate to this site safe. Additionally, advanced analytics and reporting tools offer full audit trails of file activity. Lastly collaboration tools such as Q&A workflows, granular permissions, and document tracking improve communication during negotiations.

Some VDR providers offer additional services, like training or consulting, that can be bundled with an existing subscription. These services are beneficial for those who don’t know how to use the VDR or require some additional help. Be sure to read reviews before deciding on a service that offers additional services. Some review sites are funded by vendors and may feature fake or biased reviews.

iDeals is an intuitive cloud-based virtual room that features a drag and drop interface that lets users create a project in just 15 minutes, with no technical knowledge needed. It also has the commitment to privacy of data and strong integrations with Salesforce, Slack, and Office 365 for ease of use and worldwide accessibility.