Companies today depend on the generation, transmission and receiving of information. Email FTP, email and cloud-based file-sharing are all tools that can be utilized to share files. However, when it comes to managing vital company information in a secure, reliable environment with a global network of users, a lot of companies opt for the next generation of online data exchanges which are called virtual data rooms.

VDRs are sophisticated, online information exchanges with solid security for documents and communications features. They’re used to securely store and share documents as well as other media with a global community of users, with around-the-clock availability and support. They can be accessed via any computer, tablet or mobile device with internet access. They’re ideal for confidential and sensitive documents and can be used for a wide variety of business reasons, including due diligence, fundraising and strategic partnerships.

In M&A transactions VDRs are frequently utilized to aid due diligence. Both the buy-side and sell-side need a place to keep and review the necessary documentation. VDRs enable companies to simplify their strategic partnership process and is a crucial element of growth strategies.

The technology behind these online repositories has evolved significantly over the past five to 10 years, and many vendors offer a variety of pricing models, ranging from the pay-per-page upload model to per-user fees to add or delete users. When choosing the right VDR make sure you are looking for transparency in pricing as well as practical features that are used more frequently than those that are not. The iDeals platform is easy to use, user-friendly and extremely efficient. We’ve used it for 3 multimillion dollar M&A deals and are a happy customer.

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