Contrary to popular belief, not every virtual data room is the same. While all of them go to great length to protect the materials that you upload, there are so many other things that you should account for. In this article, we will compare and contrast some of the leading data room services so you can see what each one offers and whether or not they fit your business need. Just like any other business decision you make, you must make sure that it is based on sound business principles and it will expedite the way business is conducted. Therefore, while you are shopping around for a virtual data room provider, be sure to know all of the details that the data room must have and which features you will be able to live without. Now let’s take a look at some tips for choosing a virtual data room provider for your business.

Essential Features

SECURITY

Secure document storage and sharing requires world-class security so your virtual data room provider should have comprehensive document and access security policies. Top-tier virtual data rooms protect the confidential data using advanced security features, such as data encryption while in transit as well as at rest, innovative authentication protocols, and granular data room access policies which allow to revoke access at any time. Document security measures include custom watermarks, printing restriction, and partial document view.

USER INTERFACE

Intuitive ease of use ensures the corporate-wide adoption of secure file sharing solutions offered by virtual data rooms. User interface is simplified by allowing one-click file upload, instant indexing, and convenient communication Q&A tools. Admin interface allows to change user access permissions with one click, as well as applying document security settings and managing data room user groups. User interface can be localised in many languages which is important in international deals and operations spanning several countries.

PRICING AND CONTRACT TERMS

There are many factors that you should consider when comparing pricing schedules provided by virtual data room providers. To make sure you are getting the best service for money, you should compare not only the amount of users included in the quotation but also the length of the plan. Plans that are billed annually are suitable for long term projects or when the data room is used as a corporate document repository. Plans with monthly or quarterly billing schedule are good for short term projects such as M&A. Also pay attention to whether the plan includes any additional expenses such as charges for the data room hard copy on a flash drive.

iDeals Virtual Data Rooms

How does iDeals measure up? When global financial institutions, private equity funds, and top-tier corporate executives need the right combination of reliability and technology to streamline their deal, they turn to iDeals.

iDeals Virtual Data Rooms
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Best Providers

Contrary to popular belief, not every virtual data room is the same. While all of them go to great length to protect the materials that you upload, there are so many other things that you should account for. In this article, we will compare and contrast some of the leading data room services so you can see what each one offers and whether or not they fit your business need. Just like any other business decision you make, you must make sure that it is based on sound business principles and it will expedite the way business is conducted. Therefore, while you are shopping around for a virtual data room provider, be sure to know all of the details that the data room must have and which features you will be able to live without. Now let’s take a look at some tips for choosing a virtual data room provider for your business.

Tips for Choosing One From the Best Virtual Data Room Providers for Your Business

A lot of companies out there choose their data room providers based on price alone. There are lots of things that are wrong with such an approach. First of all, a cheap price will mean limited storage space, will not be able to accommodate the number of users that you will need and many other restrictions. Therefore, it is important to take your list of “must-haves” and decide whether or not your business needs could be met under such a pricing plan. Keep in mind, that all virtual data rooms will come with standard features and virtual ones as well. The best virtual data room will have transparent and flexible pricing so you can adjust up or down as the situation may be.

How do you know if a virtual data room can be trusted with classified materials? After all, what is the point of paying for a virtual data room if it cannot fulfill its basic purpose? Ask the virtual data room provider if they have any international certificates to prove that they are compliant with the necessary security protocols such as the ISO 27001 and SOC2. If they are compliant with all of the criteria needed to be awarded such certifications, then you can be comfortable trusting with your classified information. This way you and all of the parties involved will be able to sleep at night knowing that sensitive data will not be leaked or hacked into and that any correspondence that you have between each other will stay secure as well.

While customer service may not be at the top of your list, make sure the data room offers a superior level of customer service. Consider the following: you paid a lot of money for your data room, you logged into it for the first time and you-you are having a hard time uploading a document. When you call customer service, will you be able to speak with a real person or will they give you a robot to talk to? Will they be available to help you 24/7 or only during some hours? This is also an important factor that you have to think about since you will probably be needing some assistance using your data room at least in the beginning stages. Investing in an online data room with outstanding customer service can pay dividends down the road by facilitating the business process and saving you time.  

Compare Our Reviews for Choosing Virtual Data Room Software

You have so much on your plate already with your current workload that shopping around for data room software should not be one of them. There are lots of virtual data room reviews that you can use to assist you during your search. However, as a word of caution, you should try to steer clear of partial and biased reviews. These will be the ones that promote certain virtual data rooms and misrepresenting the facts. They will be eager to sell you their product without even telling you that another company can give you the same or better quality service at a lesser price.

First of all, there are a lot of data room providers out there and unless you are a data room insider you probably do not know who the major players in this field are. By giving yourself as many options as possible, you are increasing the likelihood that you will select the proper service provider in the end. Cast your net far and wide to get as big of a candidate pool as possible and then gradually start adding more and more filters until you are left with one online data room.

Our rankings are based on the advantages that each online data room offers and a lot of detailed information about each virtual data room. It distinguishes itself from other data room rankings because it is consumer oriented and was created with one purpose in mind: to give the customer complete and objective information when selecting an online data room. Choosing the wrong data room provider and then try to shift everything over to another can be so costly and time-consuming that it could be something impossible to do.

While you may have your list of features that a data room must have, there will be things that you probably have not accounted for such file format support, IP access restriction and many other details that might have gone overlooked, but are really important when the rubber hits the road. We will tell you all of the useful features that a particular data room has and while it may seem tedious, we know what details are important and which ones are superfluous. As the saying goes “The devil is in the details” and we are committed to helping you navigate through the sea of data room providers. Start using it today to get a jump start on your selection process since the search can take some time given that this is such an important decision.    

iDeals

Ideals Virtual Data Room

The best virtual data rooms providers you see listed here in this virtual data room comparison play an essential role in evolving today’s enterprise virtual data room landscape. The way they develop new features, the prices and payment plans they structure, the level of customer service they offer, such as iDeals Virtual Data  Room — each of these factors influences the services that their many clients can, in turn, recommend to their friends.

merril

Merrill Datasite

Despite its long history on financial markets Merrill did not get into the virtual data room space until some time ago. This puts the company a short step behind many of the other best virtual data room market participants in terms of experience, however in many cases Datasite still has a technology edge over other providers.

intralinks

Intralinks

Intralinks secure file sharing solutions were one of the first virtual data room offerings on the market. Intralinks was able to use its established record of performance and reliability to become a good choice of virtual data room software for many M&A dealmakers. The company reveals it has nearly $35 trillion worth of deals completed on its platform.

box vdr

Box Virtual Data Room

Box is a reliable, innovative secure virtual data room provider with glowing virtual data room reviews. It is well-known in the virtual data room space thanks to its ability to combine security and intuitive simplicity of top-tier data room providers with the agility and cost efficiency of a fintech startup.

ansarada-virtual-data-room

Ansarada VDR

Ansarada VDR has spent significant resources in expanding its secure data room software. It’s clear that Ansarada VDR learned from the experiences of competing providers to avoid common pitfalls. This virtual data room software allows to specify password expiration dates on highly secure documents or even delete shared links at any time.