How to find a top rated VDR

Virtual data rooms serve the deal-makers for a few decades. Before they entered the market the only available option to share corporate data with the partners was to set up a physical data room. Such a room was a repository for hard copies of the documents. A room was supervised by a security guard who was in charge of letting the visitors in the room according to a previously prepared order list. Although the data was available the process of getting an access to the storage was pretty time-consuming. The room visitors and owners had to wait in a queue or for a queue to come to the end respectively. Moreover, additional expenditures were connected with travelling and accommodation, with room preparation and maintenance. The only undeniable benefit a land-based room had was an option to store tangible objects and product samples inside. All the other PDR functions can be easily fulfilled by a decent virtual data room.

A VDR is accessible 24/7 worldwide, allows multiple users to investigate the data simultaneously, provides the users with numerous functions that far exceed a simple storage option. Hence, virtual data rooms are much more convenient for deal-making than their physical analogues in terms of functionality and saving resources. To experience all the benefits a virtual platform can offer the one has to find a right vendor and to choose a proper room. To facilitate this process a deal-maker has to follow a few simple steps listed below.

Explore the market

There are numerous vendors on the market but not all of them are equally reliable and qualitative. Thus, from the very beginning, the one has to compose a list of most known and recognizable providers.

Check the feedback

To make a justified choice the one has to familiarize himself with the feedback available: experts, current and former users, colleagues can comment on a VDR quality. Hence, reading reviews, posts on deal-making forums and discussing a data room’s traits will help to find out if the vendor is capable of meeting the requirements and fulfilling its promises.

Determine the required level of functionality

Usually, virtual data rooms are equipped with the standard set of function that guarantees data security, facilitates the data exchange, simplifies the navigation, etc. In addition to the usual features, some vendors offer more advanced and unique options. For a user, it can mean a higher price for room exploitation. Therefore, the one has to decide what exactly he expects from a VDR and what kind of deals and projects a VDR will be used for. On the basis of this information, the one should choose a room that has a relevant set of functions.

Use the trial version

To make a conscious choice the one has to gain some personal experience of the room exploitation. As the majority of vendors offer free trial versions it might be not a problem. Trying up to 3-5 rooms is more than enough to understand which one is better.

Compare and select

Hence, when the trial period is over, the one can evaluate all the advantages and drawbacks of the rooms utilized, can compare them and select the most convenient and secure room that meets all the requirements.

Finding a decent VDR might be a time-consuming and challenging process. However, the deal-maker has to keep in mind that confidential corporate data is not something that can be entrusted to a random vendor with a dubious reputation. There are a few providers that have already managed to gain status and proved to be reliable and trustworthy. iDeals is one of the top-10 vendors that are treated as the most reputable leading players on the market. VDRs by iDeals are equipped with the complex security system, the user-friendly interface, with advanced search and uploading systems, with Q&A section and 24/7 support team, and with numerous other features that make the rooms suitable for smooth deals’ execution.

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