The business has always been a cross-national activity: people characterized by entrepreneurial spirit were looking forward to cooperating with each other in order to maximize the profit. Together with the pervasive globalization the need for expanding the contact network of partners become only more acute. Hence, the deal-makers are looking for services and technologies that will allow them to stay in touch with the partners regardless their geographical location. In addition, the modern pace of life pushes businessmen to execute deals and transactions as soon as possible: the delay might result in clients and partners loss as they would prefer the more prompt company.
The service that can help the deal-makers to keep their positions on the market and to remain competitive are virtual data rooms. It is an online repository where the documents, namely – their digital copies, are stored. As a VDR is highly protected the businessmen do not have to worry about the security of the confidential corporate data. Generally, the algorithm of a VDR performance is extremely simple: a deal-maker uploads documents to the room, systematizes them to create logical and convenient file system, and when everything is done invites selected groups of clients, partners, investors, other stakeholders to get acquainted with the documents stored in a room.
Being easy in exploitation, a VDR offers numerous benefits to all the participants of the deal. It is accessible 24/7 worldwide, thus, the authorized users can enter if whenever and wherever they want: the deal execution process never stops. An accessibility of the room eliminates time and space restrictions and allows the businessmen to forget about business trips: there is no need to go on the other side of the planet to check a few papers as from now on they can be browsed even on-the-go with the help of mobile gadgets.
In addition to secure and easily accessible data storage, users get the comfortable and highly functional environment for the work with the data. Usually, VDRs are equipped with the instruments that facilitate the whole deal-making process. To explain the options inherent to virtual platforms it is better to focus on one precise example. As there are many VDR vendors on the market the choice can be challenging. However, there are only a few reputable providers that managed to prove the quality of the services offered and to gain remarkable experience when serving the most demanding clients. iDeals is one of the 10 top-rated VDR vendors and operates on the market for more than eight years. Having the reputation of a decent and efficient provider it is a good example of the service deal-makers are looking for.
To illustrate the options making a VDR convenient for the work with the documents, it can be mentioned that iDeals equips its rooms with the advanced search system, filtering capabilities, and in-document linking. Due to these features navigation in the large volumes of the data becomes simple and smooth. Microsoft Office integration allows the users to work with more than 25 file formats and skip the time-consuming conversion stage. Q&A section helps the deal participants to maintain meaningful and uninterrupted dialogue concerning certain documents: the discussion takes place directly within the platform in special branches of questions and answers that are linked to precise documents. Hence, the users can negotiate and clarify all the aspects in a virtual space skipping face-to-face meetings.
In addition to the user-friendly interface clients of iDeals get the room protected on multiple levels. Along with the standard set of security options such as data encryption, personally-identifiable dynamic watermarks, virus scanning, two-step user verification, regular backups, etc., the user gets protection from camera-based attacks: fence view option blocks PrintScreen button and reduces the risk of dissemination of screenshots of the confidential corporate documents. Also, iDeals allow the room owners to track the users’ activity and to detect the most active, interested or suspicious visitors: regular audit reports contain the information on all the actions that took place in a VDR during a certain period of time.
Thus, on the example of functions offered by iDeals a potential VDR user can understand what kind of benefits a decent room can bring to the deal-making.
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