The choice of virtual data rooms today is extremely wide, making it difficult for customers to navigate between them. Therefore, you need to make sure that you choose the provider that is well matched to your business and delivers the most value. To do this, you not only need to know the quality providers and their features but also consider their capabilities and parameters. In this article, we will highlight the best VDR solutions and determine how to make the right choice of provider.
Best Virtual Data Room Providers
Below we highlight the five best virtual data room providers and their features:
iDeals is a unique provider that provides services to various industries. Companies of all sizes can work with this data room, as the provider offers flexible pricing. VDDeals mainly focuses on servicing due diligence, mergers and acquisitions, and real estate transactions, but that’s not the whole list of its capabilities. The Data Room provides robust data protection with advanced fence view features, watermarks, and advanced encryption.
Intralinx is suitable for large companies, providing their data with ironclad protection, and allowing for smooth and efficient M&A transactions. The provider leverages AI tools in its functionality and guarantees support at every transaction stage.
Datasite is one of the longstanding representatives of the virtual data room, which has transformed into a SaaS technology solution from a printing company. The provider has an impeccable reputation and impressive experience and is guaranteed to provide the best protection for major M&A transactions and legal and investment processes.
BrainLoop provides services for large and medium-sized businesses and is a simple and secure platform for simplified due diligence, and M&A. Clients note the program’s thoughtful and simple interface.
CapLinked specializes in small and medium-sized businesses and mainly works in the financial sector. The main advantages are flexible settings, easy-to-use space, and robust security features.
So, the best data rooms here offer the most reliable and profitable features that make your business more efficient.
How do you choose the best VDR provider for your company?
Once you’ve identified the list of providers that work best for you, you need to start researching them in more detail to determine the best option for your case. To be successful in this endeavor, you need to focus on your business needs first:
- Industry -Providers specializing in your industry will give you a greater advantage than others. Please pay attention to the industry in which the providers operate, their client portfolios, and case studies
- Company size – think ahead about how many people will be using the business software solution and how many VDR administrators you will need. This way, you can easily determine the right feature model for you
- Project size – determine how many files you will store inside your VDR. Some providers will pay per GB of storage, while others provide unlimited space, and you should choose what suits your needs, so you do not overpay
- Price – Every company has different capabilities and allocated budget for one solution. At the same time, providers’ pricing is also varied. They may charge per page, user, or GB or offer flat rates. Check out the pricing model and match it to your needs and finances
- Feature set – Consider the features you need for your project and the provider’s integration capabilities. Don’t forget about quality security; data rooms should have security certifications – SOC 2 ISO 27001 or GDPR, and provide detailed permission settings.