What is a Data Room?
Data rooms provide secure access to a large amount of confidential documents to designated parties who can view, analyze and collaborate over the content in a protected environment using any device and from anywhere in the world. The data room supports the due diligence process during the variety of transactions such as mergers and acquisitions (M&A), licensing, tender processes, fundraising, IPO and exits, litigation, restructuring, and more. Deal rooms can also be used for secure file sharing and board communications in many industries including finance, legal, real estate, telecom, and pharmaceutical companies.
The traditional physical data room is a secure, continually monitored location, often set up at company’s premises. During an M&A or other deal buyer and expert teams travel to these locations to investigate and analyze on the various documents required to complete the deal. Physical data rooms made the deal process more time-consuming and more expensive.
Data Room Set Up
The process of setting up the data room platform can be time consuming and cause delays, especially if the software is outdated. iDeals is one of the leading data room providers with its own research and development team. Since 2008 our clients are supported by global expert support teams. iDeals Virtual Data Room is a complete, secure solution that streamlines due diligence processes for audit and other corporate transactions.
Data Room Upload and Availability
Your account will be set up in less than hour and up to 100,000 documents can be uploaded and made available for viewing in 24 hours or less. You do not need to prepare documents before the upload as the data room platform will convert files in any format into secure PDF format. Besides, our support team can help you with scanning and conversion of documents. After the upload documents will be optimized, indexed and prepared for secure viewing and other actions. With an experienced staff speaking eight languages and available 24/7 your deal will be supported at all times. Our team also provides free training for administrators and users to ensure the successful room setup.
Data Room Security
The security of your documents is of paramount importance to us. Our data room is compliant with the highest security standard ISO/IEC 27001:2007. Documents are encrypted using a strong 256-bit encryption protocol which prevents access of unauthorized users, including our own IT personnel. Access to the application is limited through a unique two-factor authentication system. The one time password is sent to an authorized user’s mobile phone and is valid for the current session only.
Designed for the Ease of Use
The virtual data room software has a modern intuitive interface so that users can instantly familiarize themselves with all the features. The user-friendly design eliminates a lengthy learning curve and saves a lot of time for users and administrators alike. Easy access to detailed audit reports gives insights who had access to the documents and for how long. The room owner can also see which users were more active accessing the documents and asking questions in the Q&A area. This helps to evaluate the buyer’s interest in the deal.
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