Virtual Data Room Usage in the Life Science Industry

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For mergers or acquisition or a strategic partnership or a requirement from a regulatory agency to share documentation with third parties, companies within the life science sector often require the use of a VDR to securely share confidential information. The ability to tailor permissions and provide real-time annotations is a great way to improve collaboration and productivity, especially for businesses that have multiple stakeholders, partners and users involved in the project.

In addition, iDeals offers a granular permissions system that allows administrators to control access to files by individuals or groups, defining what they can do with them (print or download copies/pastes, take pictures) and the types of devices they can use to access the data (computer or mobile). This degree of security makes it easy to ensure that administrators adhere to GDPR regulations as well as other privacy regulations for data.

Aside from its advanced document management capabilities, iDeals also ensures that all documents stored in the VDR are regularly backed-up to prevent data loss. In the event of a natural disaster or a technical issue, you can recover all your data with minimal or no disruption to business operations. This is particularly important for companies that operate in the field of life sciences that are subject to strict regulations and standards. iDeals’ data centers are top of the line with numerous levels of redundancy. They also have various security protocols to protect sensitive information from cyber-attacks. This makes it an ideal option for life science companies which need to safeguard their intellectual property while collaborating with their partners, stakeholders and investors.