How to Ensure Your Transaction Remains Stress-free?

How to Ensure Your Transaction Remains Stress-free?

Data security standards

The modern deal-making differs significantly from the business that could have been observed only a few decades ago. The pervasive digitalization made companies worldwide to go digital and to ensure their presence in the dataroom software: those who ignored this requirement of the market cannot possibly compete with other companies. The majority of deals and transaction can be executed online and the need for time-consuming business trips and face-to-face negotiations is not as acute as it used to be. In such conditions, deal-makers face the need to find a secure and convenient virtual space that would allow them to store and exchange confidential corporate data online.

Virtual data rooms are capable of satisfying this demand. These online repositories are available 24/7 worldwide and enable cooperation between geographically remote partners. In addition, VDRs are protected with complex security systems that reduce the risk of cyber crime and ensure the deal-makers that their data in under constant and intent supervision. Hence, when utilizing virtual platforms businessmen know that they do not have to worry about data safety and, at the same time, they can be sure they will save a considerable amount of time and money they used to spend on the deal-making previously.

Thus, VDRs seem to be the perfect solution for the companies involved in cross-national projects, though local players and even private clients can benefit from VDR exploitation too. To experience all the benefits that can be offered by VDRs and to reduce stress and risks connected with the execution of deals and projects current and potential users of virtual platforms have to follow the simple tips and recommendations listed below.

• Choose a reliable, reputable and experienced VDR partner.
• Consult with the experts and other users to find out if a vendor is capable of meeting the promises given.
• Make sure that the VDR you have chosen is protected on multiple levels by such means as data encryption, two-step user authentication, time and IP restrictions, virus scanning, firewalls, dynamic watermarks, data backups, “fence view” that reduces the risk of camera-based attacks.
• Make sure that the virtual data room is equipped with the following options: Microsoft Office integration, Q&A section, audit logs and activity tracking, email integration, advanced search and filtering tools, bulk and drag-and-drop uploading options, in-document linking.
• Check if digital rights management is available: this function will help you to set up permission groups, to impose restrictions on the access to information and to utilize your room for a few projects simultaneously.
• Make sure that the room is equipped with the multi-lingual interface.
• Check if a vendor provides 24/7 multi-lingual support and if a project manager is available to monitor your room during the whole course of a deal.
• Make sure a vendor offers personal training upon request and undergo all the consultations, get acquainted with FAQs and instructions in order to be familiar with all the options and facilities of a VDR.
• Check if the price is not overestimated and choose a pricing model that suits your resources: there is no need to pay for the functions you will never use.
• Use the free trial before buying subscription

The success of VDR exploitation depends on how attentively the user follows the instructions listed about. However, the key guarantee of effective usage is hidden in the first tip – choose a reliable and experienced vendor. If a provider is selected properly the rest of the nuances will not cause any troubles. The easiest and the most justified way to choose a vendor is to look through the list of the most reputable and experienced providers.

iDeals belongs to the top-10 list and is known for being an assistant in numerous cumbersome and complex projects. Its virtual platforms have been utilized by the professionals in such spheres as real estate, investment banking, biotechnologies, accounting, fundraising, etc. Hence, iDeals knows how to cope up with the specific requirements that are inherent to certain industries. In addition, VDRs by iDeals can be customized according to the client’s wishes and made consistent with the corporate identity. Thus, when purchasing iDeals’ services customers get a fully equipped and highly protected virtual data room that is convenient for the data storage and exchange and, at the same time, conveys the holistic image of the company.

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