Compliance and security are core priorities for businesses of all sizes, and risks are highest for large business organizations that need to reassure customers, business partners, and shareholders. This article will analyze how the Ideals data room brings security to the life science sphere.
iDeals data room – a secure alternative to collaboration
The digitization of business models and processes is developing rapidly; the market is characterized by innovation and disruption. However, in the life sciences in many pharmaceutical and biotech companies, this change is still in its infancy. With all the use of new technologies and innovations, data protection is quickly forgotten.
Recently, best data room software has become increasingly popular among companies. The main reason is that thanks to such an access system, it is possible to securely arrange transparent and optimal remote work for employees. iDeals is a leader among data room vendors. The software offers an ideal protective space for companies that want to enable their employees, customers, and other interested parties to cooperate securely across locations and national borders. Drooms has been supporting biotech and pharmaceutical companies for over ten years in handling due diligence in financing processes, licensing, M & M&A, or intellectual property protection when exchanging with third parties.
The software offers users a secure platform for the following possible applications for pharmaceutical companies:
License negotiations: efficient and cost-saving due diligence through secure access to information from anywhere in the world;
Mergers & Acquisitions: structuring of an asset for quick and successful completion of the transaction;
Cost consolidation: increase in efficiency and cost reduction compared to less specific solutions;
Long-term archive: secure archiving of all data relating to a drug.
What are the advantages of the software provider?
iDeals ensures the following benefits:
Secure storage and transmission of all data. It is stored on servers following European data protection law from research documents to clinical studies.
Save money by working quickly. The software allows you to quickly upload multiple documents or the entire data room using drag & drop.
Reliable data storage. The original document never leaves the data room when accessed by the user. It is only displayed as a watermarked image of the original document.
Clear structure. By simply opening up the entire index with one click, you can find the document you are looking for more quickly in the data room without clicking through several subfolders.
Authorization management. The assignment of authorizations at the document level allows you controlled access by the users. Individually configurable permissions are: invisible, visible, printable, and storable.
Some of these benefits have a direct cost savings effect. Others change existing business processes, improve their quality, which over time will bring the company an increase in performance. Of course, every company wants to cut costs, and that’s where iDeals can help.
iDeals security standards
Thanks to the latest technological developments in security, it is possible to keep control over the distribution of confidential documents. iDeals data room offers the right platform for all of these use cases. Confidential documents are collected here and – protected by strict security rules – made available to internal and external parties. It gives you and all authorized administrators and users controlled access to large quantities of highly confidential documents – regardless of spatial or time restrictions.