When it comes to reliable virtual data room solutions, not all data room providers are to be trusted easily. That’s because every data room vendor does not offer the same level of data security, customer support service, ease of use, and all the features required.
Information protection is the most crucial element in virtual data rooms. Businesses, professionals, government agencies, enterprises, and corporations turn to virtual data room providers for one main reason — data security.
Yes, you may not need all the features offered in standard packages, but you definitely need top-notch security features in the data room you want to buy.
So how to go about it? How to choose the most secure online data room software for your business? If you are looking for some reliable names in the data room industry, here is a list of some of the best data room providers in the market right now.
DealRoom is arguably one of the most secure virtual data rooms specifically developed to minimize the inefficiencies in project management and mergers and acquisitions. DealRoom started offering secure VDR services back in 2012 and quickly became an important name in the M&A market. With an intuitive user interface, unparalleled security, and in-depth AI analytics, DealRoom’s data room is an automatic choice for data-sensitive transactions.
Intralinks, just like DealRoom, is primarily used for complex business transactions or deals. Intralinks data rooms are fully equipped with all standard tools required for the due diligence process and online collaboration. Although data room security is not an issue in Intralinks VDRs, it doesn't offer diverse customization. In short, Intralinks VDRs are mostly effective for major deal-making and not for ordinary usage.
iDeals virtual data room solutions are one of the most desired ones in the market. That is because iDeals VDRs are not only user-intuitive and easy to set up, but they are also one of the most secure data rooms you can get. The other good thing about these solutions is that they are suitable for regular data storage, due diligence, and intense data sharing. On top of that, IDeals has a very reliable customer support service, highly acknowledged in the VDR world.
FirmRoom virtual data rooms have just taken the industry by storm. FirmRoom VDRs were declared as the "best value virtual data rooms" by Capterra in 2020. Enterprises and corporations commonly use these data rooms for M&As, while FirmRoom's clientele includes J.P Morgan, Baird, and Pfizer. On top of that, you can easily integrate Office 365, Stack, and Salesforce with FirmRoom data rooms.
Merrill, Intralinks, and DealRoom technically fall in the same category as Merrill is highly used in mergers, acquisitions, and similar highly important business transactions. Merrill provides all basic and advanced virtual data room features, including a branded website. These data room services are mainly used in investment banking, law, corporate development, and private equities. However, Merrill is pricier than its main competitors.
ForData's main goal is to facilitate deal makers in the best possible ways. ForData's virtual data rooms boast impeccable security, great usability, and a robust customer support service. With all important VDR features like document permission settings, auto-indexing, docs viewer and so on, the ForData electronic data room is a highly preferred option in law firms, banks, and advisory companies.
ShareFile data room software is a versatile solution that provides exceptional services to different business industries and functions such as marketing, human resource management, finance, etc. ShareFile data rooms come with some convenient features like granular user access, view-only access, and dynamic watermarking. On top of that, it can be integrated with Microsoft Onedrive and Google Suite.
SecureDocs virtual data rooms are user-intuitive, super easy to set up, intuitive, and have transparent pricing plans. SecureDocs takes pride in unbreakable security features and simplicity, but these data rooms are not highly recommended for due diligence. Notable features include digital watermarking, permission settings, bulk uploads, and drag-n-drop.
CapLinked started operations in 2010 and has served more than 200,000 thousand companies all over the world. Caplinked data room software is famous for its simplicity, resourceful customer support system, and budget-friendly pricing plans. Notable features include instant messaging, a detailed dashboard, and integration with MS Excel and Word.
If you are looking for a virtual data room solution for small transactions or daily business operations, Box can be a great asset for your business. Box has all the basic functionalities of a secure virtual data room, such as security features, fast data sharing, etc. However, Box is not recommended for large-scale deals.
Data security is an element you cannot compromise on while opting for a data room service for your business, especially if you are involved in small- to large-scale business transactions. The names mentioned above are some of the best data room providers in the VDR market, and hopefully your choice of the most suitable solution will be among them!