Home » Business & Finance » Useful VDR Features That Anticipate & Simplify the Deal-making Process

The observable technological has already altered all the aspects of human life, including the business realm. During the last few decades, innovative technologies have changed the established patterns of the business conduct and introduced new ways of deal-making. One of the novelties is connected with the emergence of virtual data rooms. These online repositories for corporate data showed businessmen that they can cooperate with the partners worldwide and execute cross-national deals without leaving their offices. VDRs are protected with military-level security options that eliminate the risk of cyber crime and are equipped with a wide range of functions aimed at making tedious deal-making process easier and faster.

  1. Security

As VDRs are usually utilized for storing confidential corporate data a complex security system is of a paramount necessity. To guarantee safety to the documents virtual data room vendors equip their platforms with numerous functions that ensure protection on multiple levels. Hence, all the data undergoes encryption that prevents unauthorized individuals from viewing the documents. At the same time, multi-level verification system almost eliminates chances of the strangers to log in the data room. Firewalls and virus scanning reduce the risk of external intrusion into the room while dynamic watermarks eliminate chances of anonymous data sharing and misuse.

  1. Unprecedented accessibility

For the strangers entering a VDR is pretty challenging, but for authorized users a virtual data room is accessible 24/7 worldwide. It means that a deal participants can work with the documents whenever and wherever it is convenient for them, even on-the-go as mobile applications eliminate the need in a computer: data can be accessed from a phone or a tablet.  Hence, the execution of a certain deal depends less on individual schedules and geographical locations and can be done faster.

  1. Intuitive and user-friendly interface

Security and accessibility are not the only advantages a VDR can offer to its users. The room is usually enhanced with the interface that is extremely easy to navigate: the deal participants can focus on the business aspects, not on technical. Also, full-text search, filtering capabilities, and in-document linking simplify finding of the required files. Bulk and drag-and-drop uploading options, similarly to search features, are aimed at speeding up a deal execution: the room can be set up and updated in a few clicks. Microsoft Office integration allows the users to work with multiple file formats (Word, Excel, PowerPoint, PDF, etc.) and eliminates the need to convert and synchronize files.

  1. Activity tracking

Due to this function, all the actions that took place in a data room are registered and included in an audit report. Having the information on the activity of all the users, the room owners can detect the most active ones and to concentrate on communication with them which might which leads to more efficient accomplishment of a deal. In addition, the report can be used as evidence in a case of misunderstanding between the deal participants.

  1. Digital rights management

The room owners can utilize one data room for a few projects concurrently. Such an option became available due to the right to segregate the users into permission groups. Each group gets an access to certain folders and files and the rest of the information remain hidden. Hence, the room owners can increase their productivity and, simultaneously, be sure that the right information is shared with the right people.

  1. Q&A section

This section simplifies communication between the users significantly as they can discuss the documents directly within the platform and forget about face-to-face meetings and interaction via email. Branches of questions and answers are linked to precise documents and the users can get acquainted with the on-going discussion and join it to clarify certain questions. Also, whenever new messages appear on the branch users get an email notification and can immediately react.

  1. Real-time support

Decent VDR providers make sure their clients can get an instant and qualified support whenever they need it. Hence, virtual platforms are supervised by a support team and project managers that are ready to assist the users 24/7/

The mentioned VDR options make the service attractive to deal-makers worldwide. The representatives of various industries choose iDeals for their projects: the reputation of iDeals ensures current and potential clients that they will get all the services they are paying for. The company is among the top-10 and keeps its position on the market for eight years. iDeals virtual data room is not only equipped with the features listed above but can also be customized according to the client’s demands.