Today, businesses rely on the creation, transmission and reception of information. Traditional mail and faxes play a role, but so do electronic tools such as email, FTP or cloud-based file sharing. Virtual data rooms are the next evolution in online data exchanges. They allow companies to manage critical information in a safe, secured environment, with a global user community.

VDRs are sophisticated online information exchanges that feature robust document protection and collaboration, communication and security features. They’re used to securely archive and share documents and other media with an international network of users, offering 24/7 availability and support. They are accessible from any computer, tablet or mobile device that has internet access. They are perfect for confidential and sensitive documents and can be used to support diverse business processes that include strategic partnerships, fundraising, and due diligence.

VDRs can assist with due diligence during M&A transactions. Both the buy-side as as the sell-side require an area to keep, review and manage the documentation required. VDRs can also assist companies in simplify the process of arranging strategic partnerships, which is a key aspect of growth strategies.

The technology behind online repositories is constantly evolving. Numerous vendors offer various pricing models, ranging from pay-per page upload costs to user fees for adding or deleting users. When choosing a VDR, look for transparency in pricing as well as practical features that are used more often than those that are not. The iDeals platform has protecting master files a simple interface and is highly efficient. We’ve used it in the past to complete 3 multimillion dollar M&A deals and we’re an extremely satisfied customer.