The best data rooms offer cutting-edge security and control of files, allowing users the ability to safely share sensitive documents with third party. These business software products are essential in M&A, IPO, and other high-value transactions. The best providers offer secure uploads, auto-indexing, built-in Q&A capabilities, e-signature and robust reporting. They also allow multiple projects, a dashboard, and management of users.
For example, iDeals VDR boasts an intuitive configuration, as well as a wide array of deployment options. Its low learning curve and 24/7 customer support make it an the ideal choice for new businesses. However, the reviews of its users note that it’s expensive and doesn’t offer unlimited storage.
Other well-known VDR vendors include Box, Intralinks, and Firmex. All are backed by global corporations and offer a wide range of digital solutions for any project. Box is used by more than 95,000 companies, which includes 68% of Fortune 500 firms. Its simple interface and extensive integration of documents are very beneficial for small and routine transactions. Its limited functionality, on the other hand is unsuitable for larger operations.
Intralinks is one of the most frequently used VDR service providers, with an estimated 4 million users across the globe. Its extensive features include advanced search, document tags, and the capability for mobile devices to view and edit PDF or Word files. It is also compatible with third-party applications and supports different languages and currencies. It offers many advanced features, such as two-factor authorization sessions, session timeouts, and location restrictions.