A virtual data room solution that supports workflows allows companies to control the flow of documentation in a way that will ensure that business transactions are completed quickly and without information breaches. There are a variety of key elements to look for in a VDR solution provider, such as the amount of tools the vendor can provide to simplify processes like document versioning and Q&A.
For instance, iDeals allows users to upload documents in over 25 formats, which speeds up due diligence and ensures that the correct files are being shared with the correct people. It also allows users to organize and share files based on their roles and access rights with customized folder structure, real-time version of documents and collaborative editing features. Furthermore, the platform works with multiple file management applications and comes with advanced security features such as 256-bit AES encryption as well as automatic backups and document watermarking to safeguard sensitive information.
Another aspect to consider when choosing the virtual data room provider is the ability to customize and integrate the software with existing programs. This is especially crucial for companies that already have their preferred workflows and software and wish to integrate them with the VDR. iDeals for instance, offers 30+ integrations with business applications and allows users to design custom templates for their documents.
When selecting when selecting a VDR solution, it’s also worth checking out what other customers have to say about the product. You can do this by checking out VDR reviews on review sites such as Capterra or G2. In addition to the overall rating look at the number of positive and negative reviews for each product. A reputable vendor should have a high satisfaction rate and will usually show this on their website.