Private equity firms are accountable for a large amount of sensitive data that requires strict security and quick collaboration. Whether it’s raising funds for due diligence or closing deals, high-profile projects require secure communication with internal stakeholders and investors. A virtual data space helps you manage these processes without the necessity for physical meetings and emails, and provides your team a seamless experience with features like document tracking on a page and the ability to grant granular permissions.

A VDR also provides an opportunity to share documents and files with a variety of parties at once. You can invite users with different access rights depending on their role in the project and their contribution and you can manage their activity on your data room. This helps you cut down on the number data room alternatives of tasks that are redundant, boost the efficiency of your team, and also increase transparency.

Although Dropbox offers a basic user interface and provides free storage, it lacks the advanced functionality of a VDR. It isn’t able to create an online workspace that is branded, and it lacks features important for M&A or due diligence, such as audit trails, e-signature and transactions.

A good alternative is iDeals, which provides an efficient and secure collaboration platform that combines the convenience of a cloud file-sharing service with advanced security and document management features. You can easily sort and organize your documents in iDeals using a user-friendly user interface that helps streamline workflow. It has a wealth of other useful tools,, including two-factor authentication, timed access expiration and IP-address limiting, which ensures your documents remain private.