Virtual data room is a good solution to organize team collaboration and optimize business deal management. But there are many software alternatives in the market so it is difficult to choose a good one. Thus, in this article, we will review two leading solutions in the market – iDeals vs V-Rooms.
Virtual data room: efficient collaboration on electronic documents
With the development of business, the flow of information grows and there is a need for systematization of data, their rapid use in decision-making, and reliable storage. The data room allows companies to integrate the main business processes of an enterprise through a database.
Moreover, often companys` structural divisions are geographically distributed. In this case, it is important to provide for employees to work together as if they were in the same office. The virtual data room (VDR) solution allows all employees of the company to work together regardless of the geographic location of the office, the size of documents, channel bandwidth, IT infrastructure.
Data room also provides file synchronization and replication between different devices, a unified approach to the transfer and processing of company files for any department, as well as file structure and access policies that apply to the entire organization.
When implementing VDR, it must be taken into account that when using it, all communications and relationships are automated and reconstructed in a new way, both within the company itself and with its external business partners. This leads to the fact that the chosen system of relations inevitably introduces a non-standard business philosophy into the company, the purpose of which is to improve manageability, increase competitiveness and create a favorable investment climate for the company.
iDeals vs V-Rooms: a comparative review
Nowadays the global IT market is represented by dozens of productive VDR solutions. There are two well-known software – iDeals vs V-Rooms. They are positioned as innovative solutions for dozens of industries: banks, business services, retail, real estate, fundraising, M&A deals, pharmacy, biotech, etc. So, how do they work and what is the difference?
iDeals is a modern electronic deal management platform that carries all the functionality for the exchange of electronic documents legal significance between contractors. The software is designed for storing, processing, searching, and sharing with partners access to sensitive business data. iDeals data room ensures companies with a single tool to take orders, manage deals, build a contact database, and launch marketing campaigns.
Among iDeals functions there are:
- A single database of customers, partners, suppliers, applications, tasks, invoices, and other important business information.
- Reminders, planning, and management of working time, generation of documents (invoices, contracts).
- Setting filters, customizing formatting, and design.
- Access control, logs, backups, synchronization of different client bases.
- Reporting on the work of employees and the company.
V-Rooms is a unique solution for exchanging a group of electronic documents on a single flexible business platform that easily adapts to individual business processes. The software performs the following functions:
- Track all contacts and communications, sales stages, transaction history, etc. The unlimited number of custom fields allows you to collect and organize any necessary data.
- Scheduling tasks and meetings with the client; forecast of the probability of success of the transaction, notification of its inactivity.
- Sending commercial offers from VDR, automatic filling of documents according to templates.
- Customizable reports (on income, deals, tasks, leads), interactive panels for monitoring important KPIs.
So, iDeals and V-Rooms are reliable solutions that also provide measures for ensuring security: access control, two-factor authentication, automation of protective actions.