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A Virtual Data Room: Key Benefits for the Buyer

Date Added: September 24, 2015 10:09:16 AM

A virtual data room (VDR) is a relatively new cloud solution specially designed for businesses. Unlike other web-based storage systems, a VDR does not only account for data storage, but also makes deals faster, more efficient and beneficial for all parties. The technology has already got popular because professionals prefer this innovation to physical data rooms, which require much space, extra expenses and do not give a possibility of simultaneous access. What is more, the level of security of VDRs are comparable with keeping the documents in a safe-deposit box; however, the latter gives no chance of distribution.

VDRs are the best fit for the due diligence process. All the concerned parties can work with the data concurrently and effectively due to the list of useful functions: full-text search, multi-language support, tracking systems, watermarking, mobile compatibility, etc.

It is obvious that sellers get much benefits from using virtual data rooms for their business transactions. But is it the same for buyers? Let us see what an acquiring company can gain by using a VDR instead of a traditional data room:

1. Easy access anywhere, anytime. There is no need to spend time getting to the repository. You can check the documents you are concerned about as often as you want it. Using a VDR will surely save you time and trouble.

2. Getting informed about the changes. It often happens that new documents are added in the repository after the beginning of the due diligence stage. In this case, you will always get informed as soon as the late files are uploaded.

3. Advanced searching possibilities. There is no more need to study heaps of documents in order to find the necessary data. Just run a searching system and get the results in an instant.

4. Communication with the seller. Via the Questions & Answers section, you can ask your questions securely, and even point to the files you need during the conversation.

5. Higher process visibility. With VDRs, you should expect no hidden traps. All the disclosed information is available and visible to the members of the deal.

As you see, potential buyers are as interested in innovations that make their deal easier as sellers are. However, it is necessary to pay attention to the fact that these benefits exist only if a credible data room solution is chosen. iDeals is one of the best VDR providers and its product has characteristics that will satisfy the needs of the most demanding clients. Take a look at the important features of iDeals VDR:

- High security level. It is achieved due to using a 256-bit encryption (the highest encoding standard in the field), password-protection, and dynamic watermarking on all documents.

- Gaining control. Administrators are able to set restrictions for file viewing, uploading or printing.

- Track audit. Administrators can track the operations with the documents performed by different users and create visual reports for analysis.

- Q&A section.

- Mobile application for Android.

- Other features that fasten your work with the data room (drag-and-drop technology, bulk uploads, intuitive interface, high speed of the system).

Make your business transactions more convenient and effective with the online repository. Choose the iDeals virtual data room and evaluate its benefits on your own.