5.0

The iDeals VDR is one of the leading data room providers out on the market today. It has many features that will facilitate even the most challenging deal regardless of the industry that you are in. Over the course of its 10+ years of existence, it has managed to build a quality reputation on the market as a convenient and secure data room that is trusted by some of the biggest names in the industry. It is especially useful for conducting M&A transactions and due diligence, but it will also be convenient to use it as a central storage system where you can hold all company documents.

Ideals Virtual Data Room Review

iDeals facilitate discussion and communication among participants with features such as a Q&A section. The benefit of conducting all communication within such a secure setting is that everything stays safe, as opposed to using a simple cloud service that can easily be breached. The administrator of the data room is able to moderate the Q&A section i.e. they can give individual users permission to ask questions and communicate with other members inside the data room. They can also restrict communication, and individual users will not be aware that other people are working inside the data room.

The security features are top-notch as well. In addition to the standard security measures such as data encryption, two-factor authentication, and watermarks, some features could not be found in other data rooms such as “Fence View.” This helps defend against camera-based attacks. Also, iDeals offers remote shredding of documents and granular access permission. The latter really enables you to control who can access which information. For example, you can upload an Excel spreadsheet into the data room, which will be visible to everybody. Still, you can allow only certain people to access the formulas that were used for calculation.

Ideals Virtual Data Room

As far as customer support is concerned, it is on par or maybe even exceeds some of the other big-name data rooms. First of all, assistance is available around the clock, and in 12 languages, it is very refreshing to have a human being to answer your call if you are having a problem. A lot of the other data rooms offered a similar level of support but only during a limited time of the day. Not everybody has used a data room before, so it may not be very easy for them to know the full capabilities of the data room. iDeals were more than happy to offer a free demo and free 30-day trial. Surprisingly, not all data rooms out there offered a free trial even though the only to determine if a data room is right for you by putting in your information and playing around inside it.

All in all, given the combination of security features, collaboration features, and customer support, the iDeals data room should be one of the first data rooms that you try out.