Virtual Data Room Usage in the Life Science Industry

For mergers or acquisition, a strategic partnership, or a requirement from a regulatory agency to share documents with external parties, companies within the life sciences industry usually require the use of a VDR to securely share confidential information. Because they typically have multiple stakeholders, partners and users involved in the same project, the ability to customize permissions and real-time annotations can significantly enhance collaboration and productivity.

iDeals also has the ability for administrators https://dataroom365.com/virtual-data-room-vs-dropbox/ to grant granular permissions, which allow them to control the access to files of individuals or groups. This includes what they can do (print, downloads, copy/paste and screenshots) and the devices they are able access (computers, mobiles,). This degree of security makes it simple for administrators comply with GDPR regulations as well as other data privacy requirements.

iDeals along with its advanced document management features, makes sure that all documents stored in the VDR will be backed up regularly. This helps to prevent data loss. In the event of an natural disaster or technical malfunction, you can recover all your data with minimal or no disruption to business operations. This is particularly crucial for businesses working in the life sciences industry, which are subject to strict regulations and standards. iDeals’ data centers are top of the line with numerous levels of redundancy. They also come with several security protocols that safeguard sensitive data from cyber attacks. This makes it a great option for life science companies that need to protect their intellectual property while collaborating with their partners, stakeholders and investors.