Businesses today rely on the creation, transmission and reception of information. Email, FTP and cloud-based file sharing are all electronic tools that can be used to share files. However, when it comes to storing important company information in an secure, reliable environment with an international network of users, many companies opt for the next generation of online information exchanges which are called virtual data rooms.
VDRs are highly sophisticated, online information exchanges that provide powerful security for documents and communications features. They’re used to safely archive and share documents and other content through a global community of users, with around-the-clock availability and support. They can be accessed via any computer, tablet or mobile device that has internet access. They are perfect for confidential and sensitive documents and can be used to assist with diverse business processes such as strategic partnerships, fundraising, and due diligence.
VDRs are used to help in due diligence during M&A transactions. Both the buy-side as well as the sell-side require a space to organize, review and store the required documentation. VDRs enable companies to streamline their strategic partnership process and is a crucial aspect of growth strategies.
The technology behind these online repositories have advanced significantly in the past five to 10 years and numerous vendors offer a range of pricing options, ranging from the pay-per-page upload model to per-user fees for adding or removing users. When selecting a VDR provider, consider transparency in pricing as well as practical features that are used more than extraneous ones that are seldom used. The iDeals platform is user-friendly, simple www.dataroomcorp.com/what-is-a-collaborative-online-workspace and highly efficient. We’ve used it for 3 multimillion dollar M&A deals and we’re a happy customer.