|Market Presence:||North America, Europe, South America, Asia, Middle East, Oceania|
iDeals Key Features
Virtual Data Room Software
easily manage files & folders
secure fence view
mobile user interface
user security impersonation
single or bulk user invitation
group overview reports
customize look & feel
iDeals Virtual Data Room
Hugely popular with companies seeking to safely store and share confidential corporate data, virtual data rooms are bonafide online repositories of knowledge. Globally, the virtual data room market is projected to hit the $3.63 billion mark by 2026, an important indicator of the worth that companies attach to this software.
iDeals is one of the biggest players in the global virtual data room space, and the focus of this review. We explore the features of this virtual data room software, how it performs at due diligence, mergers and acquisitions, fundraising, organizational restructuring, and private equity. In a nutshell, we’re investigating whether iDeals virtual data room is the right fit for you.
About iDeals Virtual Data Room
Since entering the virtual data room space in 2008, iDeals virtual data room has carved a reputation for itself as a premium provider of the service. The iDeals data room is trusted by players from a wide variety of industries including investment banking, real estate, biotech licensing, and a host of others.
A big reason for the popularity of iDeals virtual room software is its interface, which is as comprehensive as it’s intuitively navigable. It takes a maximum of twenty minutes to deploy data rooms on the iDeals platform, and you’re not required to possess strong technical knowledge to operate the software.
Uploading documents to the virtual data room is enhanced by iDeals’ drag and drop feature, and once uploaded, the documents are watermarked and numbered automatically. Documents can also be stored and shared in the virtual data room in over 25 different file formats.
iDeals virtual data room’s watertight security is another interesting attribute. With a plethora of security protocols (such as the Fence View feature), this software ensures that your data is safe from the prying eyes of malevolent outside forces.
Features of the iDeals data room
iDeals virtual data room provides a cache of practical and forward-thinking features for a wide range of applications. These are the headline features of the virtual data room software:
Security is a non-negotiable aspect of the fabric that makes up virtual data rooms, and with a multitude of accomplished security protocols, iDeals has earned the right to be regarded as a premium data room provider for secure document sharing.
iDeals’ ‘Fence View’ feature prevents hackers from gaining access to your data through your device’s camera. Along the same lines, there’s a remote shred feature which can be used to provide or restrict access to your files to various viewers. With this feature, you can tag your documents with mobile watermarks or deny access rights to your documents, even after they’ve been downloaded.
iDeals software also includes a secure spreadsheet viewer for users to use. Secure online spreadsheet analysis, secure downloads, data encryption, watermark settings, and much more are all possible with the spreadsheet viewer.
2. Easy and comprehensive interface
Some virtual data rooms are so complicated, navigating them becomes challenging and cumbersome. iDeals virtual data room is quite the opposite; it offers intuitive, simple interface, and you wouldn’t need to download Java plugins just to get access to your documents.
First and foremost, you can access and manage virtual data rooms with ease, enjoying a variety of languages the platform supports — including Russian, Spanish, English, Chinese, Japanese, German, Turkish, French, Dutch, Korean, and others.
The software also allows for a single sign-in, eliminating the need for several user names and passwords to access different files and documents. The user interface has been optimized to perfectly match buyer requests list and offer the best possible viewing experience on all possible devices.
3. Document management
Document management is another area where iDeals excels. Its data room features a simple drag-and-drop interface for quickly uploading your papers into the system. The quantity of documents you can upload into the data room is completely unlimited. The process is quick and painless, with customers having the option of uploading multiple documents at once or in bulk.
And with support for more than 25 different file formats, plus automatic numbering and indexing support, you won’t have to spend more time than absolutely necessary preparing your documents.
One of the iDeals software’s most notable features is its Q&A constituent, which enables subscribers to compile a list of the most commonly asked questions and make it available to users at all times. This list can be drafted ahead of time and filled with all of the pertinent facts about your offer.
The status of the questions can be updated manually or automatically, allowing you to keep track of the state of the questions and assisting administrators in making better use of their time. iDeals virtual data room also generates comprehensive Q&A reports that can be saved for future legal purposes.
5. User management
iDeals virtual data room provides four predefined roles, which you can assign to your users for a more secure control of your data. With iDeals, you can send out single or bulk user invitations, which allows you to welcome users one at a time or in one fell swoop, depending on your preferences.
You may also control who has access to data rooms, Q&A sections, and how often they are notified about new papers for all of your users.
Real-time reports are essential for the tracking of your campaigns, and iDeals virtual data room software comes up trumps in this area as well.
iDeals virtual data room software gives you access to audit trails that can keep track of all actions in the data room, allowing you to manage internal compliance.
You can also trace each user’s actions, including their search history, using the aforesaid feature. On iDeals, every document viewed, printed, and downloaded may be tracked. Not only that, but you can also see how long a person has been viewing a document.
Benefits of the iDeals data room
In addition to excellent security and an affordable virtual data room experience, these are other advantages that iDeals software provides its users:
- Easy uploading and ordering of files
- Multi-level security and advanced data protection
- Customizable look and feel
- Provision of useful reports and insights
- Excellent customer service
- Seamless and secure collaboration with multiple parties
- Mobile user interface
5 quick steps to start work with iDeals virtual data room
As the vast majority of customer reviews of the iDeals virtual data room software point out, the tool is easy to set up and work with. These are 5 easy and quick steps to get the virtual data room up and running:
1. Sign up to the iDeals virtual data room
To start using the iDeals Virtual Data Room tool, you’ll first need to sign up to the service on the product’s webpage. Signing up is easy and your login is protected by two-factor authorization.
2. Decide which documents to upload
Depending on what you want this virtual data room solution for, you’ll need to make a decision on what documents and files to upload.
3. Organize files and folders
If you’re planning on doing audits or due diligence in your virtual data room, it’s a smart idea to keep your virtual data room organized.
4. Establish user roles and access
It will be much easier to specify users’ access privileges to the appropriate documents if you organize the files and folders in your VDR. Auditors, for example, can need access to papers that angel investors shouldn’t have, and vice versa.
5. Confirm software settings
Before you make all your changes live, check all your user permissions and security protocols one final time.
News about iDeals
On the iDeals blog page, the company provides general information about the software (important updates) as well as useful tips on how to make the most of virtual data rooms on the platform.
iDeals data room user reviews
The most recent update made by the company pertains to improvements to the software’s document redaction tool. The redaction tool itself is an update that enables users to protect sensitive data while performing M&A transactions.
On the company’s website, there is a whitepaper detailing the process for using a VDR for an M&A transaction, as well as a guide to using the platform’s redaction tool.
We went through a cross-section of user review platforms (including iDeals’ website) to get an overview of customers’ perceptions of the service.
The sentiments were overwhelmingly positive, with special praise reserved for iDeals virtual data room’s strong security, ease of use, and budget-friendliness. On the iDeals virtual data room website, the software has an excellent rating of 4.8. On Software Advice, iDeals virtual data room also boasts a review rating of 4.8 from 246 customers.
Unlike other data rooms, iDeals virtual data room also has an overall approval score of 4.8 on Capterra, with one user saying that iDeals virtual data room, compared to their previous VDR, is very user friendly, easy to set up, and boasts all the required features. However, the user also notes that the software’s automatic index could be improved.
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