When dealing with business transactions and sensitive documents, the most effective way to ensure the security of information sharing is by using virtual data rooms. These platforms help companies complete important transactions quickly and effectively, without the need to invest in expensive physical storage.
Virtual data room software also gives users real-time information into their deal activity. This helps them know what their customers are interested in and adjust their offerings accordingly, thereby closing more deals in a shorter time. It also provides them with an in-depth view of the time clients are spending on specific documents which allows them to assess the level of engagement.
Due diligence is among the most popular uses for virtual data rooms. They allow sell-side parties and prospective investors to review confidential documents in a secure environment. Reviewing tens or even hundreds of thousands of documents is a time-consuming process that requires special tools. Modern VDRs automate the process, making it possible for speedier review and approval.
iDeals VDR provides a simple and intuitive configuration with a variety of features that make it simple for anyone to use. The platform is available in several languages and provides a variety document viewing permissions including fence view, downloading PDF and more. Its security implementations ensure compliance with industry standards such as FERPA, GDPR, HIPAA and eIDAS.
Firmex offers a variety of functions, including group and user management and DRM, as well as visual analytics and dashboards. It is a good fit for an array of industries. Notable customers include Pfizer and Baird. Its pricing is based on quotations, and the company provides a free 2 week trial.