In the current business environment, the issue of securing information and transactions is quite ambiguous and disputable. The good thing about the Internet is the availability of tons of information and the way how easily and rapidly users share it. However, that may also be the worst thing.

A VDR (virtual data room) is a special software that allows businesses to share confidential information with the help of the Internet, saving full control of it. Virtual data rooms are vital elements in supporting the external facing workflows in a range of industries including but not limited to the following:

  • Investment;Hong Kong data room reviews
  • Consulting;
  • Banking;
  • Legal;
  • Manufacturing;
  • Media;
  • Healthcare;
  • IT;
  • Real estate;
  • Biotech;
  • Venture capital, etc.

Today, VDRs have revolutionized business processes, providing a full and round-the-clock access from any device and location, secure data storage and management, money and time savings when making business deals, avoiding certain risks, and controlling online due diligence processes.

M&A deals are quite difficult transactions in terms of confidentiality and efficiency. The benefits of using the services of a data room service provider include but are not limited to the following:

  • It allows you to share the needed amount of information controlling its confidentiality;
  • M&A documentation is always monitored and secure letting you focus on a deal but not on some details that may distract you;
  • VDRs are more affordable than physical rooms, and their user-friendliness allows making the business processes efficient and straightforward.

Those are the key reasons why companies tend to choose virtual data rooms over the physical ones. Virtual data room reviews shed light on what features particular rooms provide, which are better in terms of security and control, etc. So before making virtual data room comparison decide what type of buyer/user you are and what workflow you are engaged in. This will help you to make a more informed decision.

iDeals data room logo
Rating: 5.0

iDeals Virtual Data Room

intralinks data room logo
Rating: 4.7

Intralinks Data Room

Ansarada data room logo
Rating: 4.4

Ansarada Data Room

Firmex data room logo
Rating: 4.0

Firmex Data Room

merrill data room logo
Rating: 3.7

Merrill Data Room

Intralinks mainly deals with big corporations and focuses on large deals. The prices are higher than in other companies, but vast experience in solving major problems compensates that.

iDeals VDR is supposed to be the most convenient and secure platform on the current market. Their virtual data rooms have been used in complex projects in a number of industries.

Ansarada is focused on clients who make merger and acquisition transactions and serves as a mediator between sellers and buyers.

Merrill Сorporation is one of the world leaders helping customers execute complex deals and providing financial, consulting services as well as content management.

Firmex is a relatively new player in the VDR market; however, it has already proved to be experienced in speeding up due diligence, making all collaboration aspects easier. It is also convenient for M&A transactions.

How to Compare Virtual Data Rooms?

Choosing a VDR provider can appear to be quite a challenging task – even more challenging than completing an M&A deal. The reason for that is the growing and developing market comprising a number of due diligence providers of data rooms helping businesses become the leaders in their niche and offering data security and other vital services.

When comparing online data room providers, one has to consider a range of things and VDR reviews to choose the best platform for business needs:

Secure VDR

  • Does the data room provide features that will help protect the documents from screenshots and unauthorized viewing?
  • What’s the level of information encryption?
  • Is 2-step authentication process when logging in available?

Ease of use

  • Does the platform offer bulk upload and Drag&Drop function?
  • Is it easy to invite other users to the VDR?
  • Is synchronizing folders with cloud storage available?
  • Is searching for documents in different formats possible?
  • Is the interface convenient and intuitive?
  • Can it run on mobile devices?

Reports

  • Is an access to the history of user’s activity manageable?
  • Can users receive notifications of any activity?
  • Can time and date filters be applied to reports?

Ease of access

  • Are there Android and iOS apps?
  • Can the virtual data room be accessed from any operational system?
  • Can the design be customized?