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Discover The Best VDR Providers

Virtual data rooms become the mainstay of the majority of deals and other complex business transactions in any industry. Most commonly used during mergers and acquisitions and other types of corporate and investment banking transactions, virtual data rooms have also found their uses in real estate, legal, life sciences and pharmaceuticals, education, energy, and other sectors. 

Comparing the major virtual data room vendors in virtual data room reviews does not have to become a simple check of the cost of one virtual data room solution compared to another. There are dozens of factors that influence our decision: the number of users of the virtual data room, the contract length, the amount of data that will be uploaded, the list of business-critical features, to name a few. 

So how do we understand which provider offers the best deal? The key is to understand the variety of features present in solutions by top virtual data room providers and then determine which is best for your business needs. 

Comparing online data room providers is complicated. It is not the case where you make a cheek-to-cheek comparison because virtual data room providers offer different pricing plans, unique features, and data management tools, and frequently add new features. 

But by taking a close look at virtual data room offers from top virtual data room providers, we offer some advice to help you find the best value. This website goes deep down into the details to show you which virtual data room providers have the best balance between the choice of secure file sharing features and their pricing plans in this virtual data room comparison.

IDeals Virtual Data Room

IDeals Virtual Data Room #1

iDeals is one of the best-known and oldest Virtual Data Room providers worldwide. Founded in 2004, the company became a VDR provider of choice for top-tier financial institutions, investment banks, hedge…

Merrill Datasite

Merrill Datasite #2

Following iDeals, Merrill is a major player in the virtual data room space. Their focus is on dealing with global financial institutions and big names in the business, as they…

Brainloop Secure Dataroom

Brainloop Secure Dataroom #3

Brainloop Data Room Provider offers you various products like boardrooms, deal rooms, collaboration rooms and so on. Like all other providers it focuses first of all on security. Brainloop can…

Watchdox by Blackberry

Watchdox by Blackberry #4

A relatively small player, Watchdox by Blackberry is a secure data management and virtual data room platform that allows easy document synchronization and secure sharing.  Blackberry is very passionate about…

Intralinks Dealspace

Intralinks Dealspace #5

Intralinks the U.S.-based data room provider which is exceptional among the virtual data room providers, offering the security and advanced features as expected from one of the of bigger players…

Box

Box #6

This provider started as a consumer-grade file sharing platform. After that Box virtual data room has evolved into a full-scale secure virtual data room solution. Under its simple interface, which…

Choice Of Users

iDeals #1
iDeals #1
33%
Watchdox #4
Watchdox #4
13%
Merrill #2
Merrill #2
20%
Intralinks #5
Intralinks #5
12%
Brainloop #3
Brainloop #3
15%
Box #6
Box #6
7%

If your project requires strict confidentiality, then an online data room will be simply indispensable. When you take an initial look at certain data room providers out there, they seem to be offering very similar services, but, in reality, some of them really cut corners as far as security and usability are concerned. While conducting your search, you need to take into account that no two virtual data room are the same and some will be useful for certain types of projects such as due diligence and M&A transactions, while others will be useful for things such as case studies and document repositories.  

How to Find the Best Virtual data Room Provider for Your Deals?

The first thing you need to do is find out which features will be absolutely necessary for the success of your project. Which features will be deal breakers and which ones can be sacrificed. This will form you expectations of the online data room and when you log initially you will not encounter any surprises. Keep in mind, cutting edge security features is something that all companies will require, regardless of their project or industry. Therefore, you should check which custom security features does the online data room offer besides the usual firewalls and data encryption.

Price is one of the main factors companies consider when choosing an online data room, but it should not be the deciding factor. Keep in mind that most data room providers offer a wide array of plans to choose from and with some of the most advanced features include in the more expensive plans. If your project is very complex, you may need these advanced features in order to make life simpler for you and everybody involved in the project. The last thing you want to do is save on critically important features since it will end up costing more in the end. Also, be sure to verify that you pricing plan is flexible. If your project expands, you will need more space to store your documents and if you choose the cheaper plan, you may be stuck with it.

Whenever you log into a data room for the first time, it can be hard to figure where everything is. In fact, you may need help with simple things such as uploading or viewing documents. If this happens, will their support team be there for you whenever you need them or will they be there during certain hours? Also, you may need help in a language other than English. Will support be available to you in this situation?

These are just some of the aspects that you need to consider when making your choice, since making a mistake at this stage can be very costly. Take the time to figure out your specific needs and discuss them with the data room provider. Everything else will fall into place.

VDR Services

Mergers and Acquisitions

Secure data room helps accomplish the safe disclosure and distribution of corporate data during M&A transactions, as well as other investment transactions, including private equity and venture capital raising, making the data room M&A services highly sought-after.

Due Diligence

Online due diligence data room facilitates the due diligence phase of the deal when all parties access the confidential data in the highly secure environment.

Legal

Dataroom services protect legal documentation including statements, evidence, and transcripts in a highly secure environment where each action of users is recorded by data room services, while many users can access and inspect the data while being invisible to each other.

Life Sciences

Biotech, pharmaceutical, and life sciences companies rely on virtual data room software to meet the data protection regulations and keep their information secure under HIPAA regulations.

Features

Reporting and Audit

Each user action in the virtual data room is thoroughly recorded and can be examined for useful business insight, for example, to gauge user interest in a particular document or folder. VDR provides a complete audited trail of actions which is essential for highly regulated industries with strict compliance requirements.

Gradual Access Control

The data room owner can set a detailed structure of permissions which outline what each user or user group can do in the data room, for example, view in full or in restricted mode, print, save or share the documents. Access rights can be revoked even retrospectively, but not many of providers in this virtual data rooms review have this function.

Ease of Data Access

Most top-grade data rooms can be accessed on a variety of devices, including mobile, and work equally well on all common platforms. Intuitive interface improves user acceptance and eliminates the learning curve so even the least technical of dataroom software users can start working in the VDR straight away.

Secure File Sharing

Data rooms are specifically created for companies who need a controlled, permission-based medium to share sensitive, confidential, or intellectual property data. Relying these precious types of data on consumer-grade file sharing solutions would be a grave mistake. Watermarking, permission-based file sharing, and document rights revocation help to secure file sharing in the virtual data room.

Collaboration Tools

This set of features permit users to collaborate with others on a specific document or folder in the data room. Some collaboration features such as Q&A and secured email can only be found in top-grade data room platforms. Many users rely on the ability to discuss and comment on the data they are working on.

Multi-layered Security

Data security is imperative for virtual data rooms and top VDR providers employ a number of highly advanced security technologies, including encryption, multi-level user authentication protocols, and post-dated access revocation. Document security features usually include customizable watermarking, printing disability, and view restriction.

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