Ideals is one of the youngest online data room providers. It was founded in 2008, and before you think that eleven years are quite a lot, remember that there are vendors who exist for half of the century like Merrill, for example. So we can say that Ideals is a modern virtual data room provider, and it’s a great benefit.
Unlike old-school vendors, modern ones are usually more flexible and technically advanced. This is just the case with Ideals – the cloud-based virtual data room that is agile enough to fit the needs of any industry and support businesses during all processes that involve sensitive documents. Companies use it for the most cumbersome deals in complex fields like biotech, real estate, life sciences, to simplify the workflow and close the agreement successfully.
Ideals checks all the boxes in the list of features. The interface is entirely customizable – you can even add your corporate branding to it. Also, it’s possible to integrate this data room with other tools you use in the company through APIs. And custom workflows are a much-needed feature for businesses with specific needs. However, some users find the interface somewhat outdated.
Understanding how important it is for sides to communicate successfully during the deal, this provider offers many tools for the teamwork. Users can leave notes on files and folders, send each other messages, and clarify certain matters in the Questions and Answers section. Needlessly to say that everything in Ideals data rooms is perfectly secure – from the repository itself to private user messages.
With Ideals, you can track all the user activity, and the time they spend reviewing the documents. Also, there is a real-time audit tool that allows making quick data-based decisions. All the statistics can be exported to Excel or represented as graphs for better visualization. Additionally, users can get scheduled reports via email.
Ideals supports all formats of files, indexes them automatically and allows uploading documents and even folders in bulks. Once a new file is uploaded, all users get notified via email about that. This small yet useful feature significantly speeds up the workflow.
When it comes to security, this provider takes care not only of encryption but of custom protection, too. Therefore, team members can put watermarks over documents to safeguard them from unauthorized use. Also, there is a fence view feature that protects the information from prying eyes.
Of course, the administrator of the data room has complete control over the level of access users have. It works both as an additional protection tool and an opportunity for the selling side to have more space to take the right moves during the deal. To offer even more security, Ideals implemented multi-factor authentication.
Now let’s move to the support which is an important nuance for Indian users due to the time difference. Ideals offers 24/7 help via phone, live chat, and email. It provides users with live trainings and a dedicated project manager to help businesses executing complex deals. So companies in India will get extended help regardless of the time when the issue occurs.