A virtual data room solution for workflow allows companies to control the flow of documentation in a way that ensures that business deals are completed quickly and without information leaks. When selecting a VDR solution provider, there are a number of important aspects to consider. These include the number of tools offered by the vendor to streamline processes such as document versioning and Q&A.
iDeals for instance lets users upload files in a variety of formats. This helps speed up due diligence, and ensures the right files are shared with correct people. Users can also organize and share files according to their role and access rights using custom folder structures as well as live document versions and collaborative editing tools. The platform also allows for multiple file management applications and has advanced security features like 256-bit AES encrypted files, automatic backups and document watermarking.
Another thing to look for in the virtual data room provider is the capability to modify and integrate the application with other software. This is particularly important for organizations that already have their own workflows and tools and want to integrate them with the VDR. For instance, iDeals offers 30+ integrations for business applications, and lets users develop custom templates for document creation to make it easy to upload.
It’s a good idea to see what other customers have to review the VDR product prior to making a decision. This is done by keeping track of VDR reviews on reviewer websites like Capterra and G2. Check out the negative and positive reviews of each product in addition to the overall rating. Good vendors will have a high satisfaction with their customers and will show it on their websites.