Businessmen worldwide have to stay in touch with each other in order not to lose new opportunities and not to miss new projects. Therefore, they regularly exchange certain documents, discuss them and share with third parties online. As some data is highly confidential deal-makers should use only reliable and secure channels for data sharing – not a single piece of information can be put under the threat. Along with military-level security, businessmen are looking for other features that would improve their performance on the market. Hence, they need functional and highly protected virtual venues.
Idealsvdr is a solution that can satisfy demands on the modern deal-makers. VDRs are online repositories for the digital copies of the documents. Their security is guaranteed by a multi-sided protection system that implies data encryption, firewalls, virus scanning, two-step user verification, data backups, dynamic watermarks, etc. Due to the functions mentioned data kept in a VDR is protected from theft, misuse, anonymous sharing and other types of virtual crime.
Also, a virtual data room has much more other benefits to offer. A decent platform allows the room owners to monitor the activity of all the users that have an access to the room. In addition, all the users can be segregated into permission groups that are characterized by a different level of access to the data. Hence, one room can be utilized for multiple projects. Moreover, a VDR is usually equipped with numerous functions that facilitate work with the documents: advanced search options, filtering capabilities, in-document linking, integration with Microsoft Office, Q&A section, 24/7 qualified support – all these features make a data room simple and convenient to exploit and enhance communication between participants of a deal.
Thus, virtual data rooms proved to come in handy in a course of the most complex and cumbersome deals. The popularity of VDRs grows rapidly and more and more businessmen are eager to go digital and to open their own online repository. Therefore, numerous vendors emerge on the market to satisfy the demand but not all the virtual platforms are equally beneficial: each project requires a specially chosen data room. It means that whenever a deal-maker plans to utilize a VDR he should be attentive and critical in his choice.
Check the market
From the very beginning, he has to familiarize himself with the market offer – it is important to know the providers operating on the market. It is advisable to start the selection from the most known and reputable vendors that are treated as the leaders in their industry.
Check the reputation
Despite the official top lists and expert evaluations, the one has to check the feedback of the former and current VDR users. They are the ones that can estimate all the pros and cons of a platform and give a sincere assessment of a data room performance. Also, it is better to check the deals that were executed with the assistance of a certain provider: the projects completed show the experience of a vendor.
Check the functionality
Although there is a certain list of standard functions that must be included in a package of all the data rooms, each platform slightly differs from the others. Thus, the functionality offered should be checked attentively. The one must be sure that the price he is about to pay corresponds with the functions he gets.
Check your needs
Also, it is important to pay only for the options that are required for the project. As VDRs differ in their functionality and are usually equipped with some unique and advanced options there is always a risk to pay for the unnecessary and excessive set of functions. Therefore, before purchasing a VDR services, the one has to estimate what exactly he needs and to base his selection on objective criteria.
Check the trial version
Usually, vendors offer their potential clients an opportunity to get acquainted with the platform for free. A few weeks of the exploitation of a trial version should b enough for the user to understand if the vendor is capable of meeting the promises given and if the room is suitable for the project.
The tips mentioned should simplify the process of VDR selection. However, it is advisable to entrust confidential and sensitive corporate data to experienced and reputable vendors. iDeals is one of the leading providers on the market. It operates for more than eight years and has proved to be capable of offering highly protected and convenient virtual platforms that can be customized according to the project’s needs and the client’s wishes.