Private equity firms are responsible for a wide range of sensitive information that requires a high level of security and easy collaboration. The most prominent projects require communication securely with internal stakeholders and investors regardless of whether they’re raising funds, conducting diligence or closing deals. A virtual data room helps you manage these processes without the necessity of physical meetings or email threads. It gives your team an easy experience through features like document tracking on a page and more granular access rights.
Additionally, VDRs are also a VDR is a powerful platform for sharing files and documents with multiple parties simultaneously. You can invite multiple users with various access rights based on their contribution or role to the project, and monitor the activities of each on your data room. This lets you reduce unnecessary tasks, increase team productivity, and increase transparency.
Dropbox has a simple interface and free storage, but does not have the advanced features of a VDR. For instance it doesn’t allow users to create a custom-branded virtual space, and it also isn’t equipped with features that are crucial for M&A and due diligence, like transactions, audit trails and e-signature support.
A great alternative is iDeals that provides an efficient and secure collaboration platform that combines the ease of cloud-based file-sharing services with advanced document management and security features. The interface of iDeals is intuitive that makes it easy to organize and search documents. It also offers a variety of useful tools such as two-factor authentication and IP-address limitation that ensures your documents are secure.