Virtual data rooms are secure online repositories for document storage and sharing. They’re more affordable than traditional physical data rooms and much safer than free cloud storage. This makes VDRs the most cost-effective choice for businesses that need a solution for secure dealmaking.
One of the biggest players among data room services is the iDeals virtual data room. Its advantages, features, and the industries it works with are described below in the review.
iDeals is a virtual data room provider that allows businesses to store and manage documents securely, communicate effectively, and complete deals fast.
Here are a few facts about the company:
- It was founded in 2008.
- It is headquartered in London, UK.
- It has offices worldwide, including New York, Dubai, Hong Kong, Melbourne, Kyiv, and San Paulo.
- It has 700,000 customers from 120,000 companies.
iDeals online data room software is equally suitable for small, medium, and large businesses. It’s also beneficial for a variety of industries, such as:
- Investment banking
- Real estate
- IT security
- Life sciences
Organizations use the iDeals virtual data room for different deals and business processes, among which are:
- Mergers and acquisitions. With iDeals data room M&A, users get all the necessary features for pre-marketing, due diligence, and post-merger integration phases. To learn more about this data room’s benefits for M&A, head over to: https://www.idealsvdr.com/ma-data-room/.
- Due diligence. iDeals provides due diligence checklists for customers’ projects and offers tools for secure document storage and distribution.
- Capital raising. iDeals VDR is a perfect solution for startups that want to raise funds and need to share confidential information with investors.
Here are the most important features of the iDeals electronic data room:
- Fence view protects data against unsolicited viewing by allowing users to see only a part of a document they have a cursor on.
- Redaction allows redacting a text, image, or area of the doc so that confidential information is hidden from unauthorized users.
- Dynamic watermarks protect documents with personally-identifiable marks by showing who and when viewed, printed, or downloaded a file.
- Remote shred enables users to download and open a file only with their credentials, and lets admins revoke access even after a file has been downloaded onto a user’s device.
- Plugin-free IRM protection allows downloading encrypted MS Word, MS Excel, and MS PowerPoint documents and working with them in their native format with no plugins.
- Granular user permissions allow admins to manage users’ access permissions for file viewing, downloading, printing, and editing based on their role in a project.
- Two-factor authentication (2FA) requires a password and an SMS code sent to a user’s phone for authentication.
- User security impersonation verifies which documents are available to a particular user group from their perspective.
- Time and IP access restrictions restrict access from a certain IP address and during certain periods of time.
- Bulk uploads allow uploading a big quantity of files and folders simultaneously.
- Drag-n-drop lets users drag a document to a data room quickly.
- Automatic index numbering helps to number files and folders in consecutive order.
- Full audit trails record every action in the data room.
- User-activity tracking lets track document views, prints, and downloads.
- Reports send an analysis of a data room activity so that admins can see the most active users and documents they are most interested in, etc.
- Frequently asked questions (FAQ) contain answers to the most common questions about the documents.
- Live discussions allow discussing project-related questions in threads, posts, and comments.
- Expert assignment lets users post a question and assign it to a specialist in a concrete area of expertise like financial, legal, or marketing.
Here are three main advantages of using the iDeals virtual data room.
- Intuitive user interface. Start using the data room with no prior training and guesswork, as the platform is accessible even for less tech-savvy users.
- Single sign-on. Access all your projects with just an email and password.
- Mobile access. Use the service anytime and anywhere on your mobile device by downloading the iOS or Android mobile app.
- Desktop version. Upload, download, and synchronize documents right from your computer.
- Security compliance. The company has earned internationally renowned security certifications like ISO/IEC 27001, SOC 1, SOC 2, GDPR, and HIPAA compliance.
- Physical data protection. iDeals’ data centers employ physical security, strict access policies, and biometric entry authentication systems.
- Real-time data backup. The service makes a copy of every change made in the VDR to prevent data loss or damage.
- Multichannel communication. Contact the support via email, chat, or phone.
- Fast response time. Get a reply within 15-30 minutes from email support and 30 seconds from a live rep in chat.
- Multilingual support. Choose among 14 languages including Chinese, Spanish, Italian, German, and Japanese.
iDeals services’ cost is flexible and customizable. It’s based on a project type, needed features, storage volume, number of users, etc. To get the price, potential customers should contact the iDeals sales team.
The company offers three pricing plans:
- The Pro plan is best for small and mid-size projects. The package includes 1 project, 5 administrators, and up to 10 GB of storage capacity.
- The business plan is a good option for larger projects that need up to 250 GB of storage. The offer includes unlimited administrators and projects
- The enterprise plan is for very big projects that need to store up to 1T of files. It offers unlimited administrators and projects, an unlimited preparation period, and a personal dedicated project team.
iDeals offers a 30-day free trial period. During it, users have full access to all services, features, and customer support. On top of that, users receive a live 1-on-1 demo with a sales rep, data room setup assistance, and training.