Helping You Find The Right Data Room Software For Your Business

Virtual Data Room Software

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VDR Provider
Summary
Pros
Cons
1
iDeals
iDeals virtual data room is a leading provider with 10+ years of experience on the market. All over the world, business leaders, investors, and lawyers confirm the excellent quality of this secure virtual data room. In addition, iDeals virtual data room is distinguished by close and supportive collaboration with customers, ensuring they achieve their goals through a convenient and ultra-secure solution.
  • Ideal for M&A
  • Excellent customer support
  • Intuitive user experience
  • Robust security mechanisms
  • Efficient use with minimum setup time
  • Pricing could be more flexible
2
Intralinks
Intralinks is an AI-powered virtual data room software for big deals. However, despite introducing complex mechanisms, the data room remains easy to use. Moreover, Intralinks is available on mobile devices in an optimized version. So, customers can manage workflows and transactions from anywhere. In addition to convenience, the platform provides a high level of privacy protection, a great advantage for transactions in all industries.
  • Practical audit logs
  • Ease of Q&A management
  • Quick customer service
  • More expensive than other solutions
  • Could be more intuitive
3
Datasite
Datasite, once known as Merrill VDR software, is an online M&A space with many advanced tools for both the seller and the buyer. So, to simplify the process, the data room provider offers functions that automate repetitive tasks and artificial intelligence that saves users time. It is worth noting that the product is suitable not only for M&As but also for complex due diligence, internal document management, initial public offering, restructuring, etc.
  • Advanced data search
  • Customizable interface
  • End-to-end security tools
  • Pricing structure is not predictable enough
  • Default “Index” view of the data room
4
CapLinked
CapLinked virtual data rooms are widely used among directors managing complex projects and transactions. Also, the vendor differs from others in the line of products that find application in different industries. For example, CapLinked offers an enterprise program for large businesses, an API for medium companies, and self-service accounts for small businesses. As a result of a careful approach to all types of organizations, the provider has customers in more than a hundred countries worldwide.
  • Great hierarchy of storage
  • Good value for money
  • Suitability for file exchange and sharing
  • Not as user-friendly as other data rooms
  • Clunky permissions functionality
  • Inability to delete a workspace
5
OneHub
OneHub is secure storage for file sharing that offers beneficial business tools. All the data room features protect confidential documents and access for authorized users. So, the provider allows participants in transactions to focus on the primary tasks and takes over the security guarantees. Among the unique characteristics of OneHub are also branded online workspaces that increase the client's prestige.
  • Easy data room organization
  • Secure data exchange
  • Opportunities for collaborating with internal and external users
  • Inability to send an invitation link through the application
  • The interface lacking basic functionality
  • Few support guides
6
Firmex
Firmex is a multifunctional data room software for compliance and transactions. This secure data room operates following international data protection standards. Besides, it is convenient for the non-tech-savvy. Therefore, any team can start productive use of the platform immediately after installation. Yet, Firmex offers the help of professional technical support at the initial stages and in the course of further cooperation.
  • Simplified bulk uploads
  • Intuitive file structure
  • Cost-effectivity
  • Impeccable helpdesk
  • Limited functionality
  • Some features are hard to find
  • Limited customer support
7
SmartRoom
SmartRoom provides safe and convenient cooperation for parties of restructuring, M&A, bankruptcy, and alternative investments. All these operations require the efficiency of key features and a high level of document security, which are the main principles of the SmartRoom provider. In addition, clients benefit from an online post-M&A integration space and a Customer Relationship Management solution.
  • Easy to use 
  • No reviews from trusted sources
8
Ansarada
Ansarada is a powerful data room for identifying risks, increasing potential, and optimizing transactions at every life cycle stage. All this is possible thanks to built-in machine learning and artificial intelligence. Moreover, the provider has more than a hundred tools for customer support, member activity tracking, and advanced data protection control.
  • Clear presentation of documents
  • Excellent support
  • Simplified management of multiple users
  • Not intuitive user experience
  • Expensive pricing packages
  • Poorly structured Q&A
  • Too stringent security features
9
SecureDocs
The market-leading business technology solution, SecureDocs offers fast installation and access controls. For workflows, the platform is equipped with many features for collaboration within and outside an organization, communication through instant messengers, and secure cloud storage for data. All these aspects contribute to a significant acceleration and simplification of any deal.
  • Ease of use
  • Quick installation
  • 100% uptime
  • No hidden fees
  • Reasonable price
  • Not intuitive user permission options
10
DealRoom
DealRoom is a dedicated agile platform for managing mergers and acquisitions. For this purpose, the data rooms present features for tracking the progress of a procedure, reducing the number of workflow tasks, and adjusting analytics options. These advantages make DealRoom twice as fast as a traditional data room. As a result, this platform is popular with organizations regardless of their size and industry.
  • Well-structured for M&A
  • Particularly suitable for due diligence
  • Convenient project management capabilities
  • Sometimes a bit laggy
  • No feature to copy assignees
  • Lack of integration with other software
11
ShareVault
ShareVault data room software is a good choice for asset sales, board collaboration, fundraising, and licensing. Since the solution offers document analysis and monitoring, user activity tracking, and secure file sharing, hundreds of customers find ShareVault suitable for the above enterprise operations. More importantly, the seller provides technical support throughout any corporate transaction.
  • Instant notifications
  • Intuitive interface
  • Easy to manage functionality
  • Takes some time to get oriented
  • Basic buttons and pages
12
Citrix Sharefile
The Citrix ShareFile provider is an intuitive product that lets you collaborate and share confidential documents from any device. Thus, administrators can open data access remotely, assign tasks, and control their execution only with a phone at hand. That is, the provider guarantees high-quality data encryption and the security of each individual user around the clock.
  • Folders for private clients or information
  • No unnecessary functionality
  • Excellent document security
  • High-speed usage via laptops
  • Some users experience connection loss
  • Slow upload of large files
13
Digify
Digify virtual data rooms are sought after by CEOs as a reliable way to share sensitive documents. If you make a data room software comparison, you’ll see that this solution offers an excellent price-performance ratio, guaranteeing reliable data protection. Perhaps the attractive price is the reason for the high demand for Digify data rooms. In addition, it is worth noting that the provider is the owner of international awards for services.
  • Easy file sharing without troubles
  • Up-to the mark support team
  • Simple tools to give or restrict access
  • A bit confusing interface at first
  • Sometimes links are not available
  • Expensive pricing packages
14
Donnelley Venue
Donnelley Venue is an M&A Atlas award-winning data room with years of experience in deal management. Among the provider's clients are government agencies, bankers, startups, and Fortune 1000 organizations that value the data room security and features efficiency. With such a powerful tool, Donnelley Venue customers can run multiple projects simultaneously and be confident that they will flow smoothly.
  • Offers additional software for the financial sector
  • High prices for services
  • Difficult to use interface

Although virtual data room solutions are not a new business software, their demand is rapidly increasing. Most likely, the reason lies in a high level of service, many features for transactions, and top-notch protection of confidential data offered by virtual data rooms. So, let’s dive deeper and learn some helpful information about these solutions and what data are useful for vdr comparison.

What are the most common data room use cases?

Since the key to any business process success is the robust protection of sensitive and confidential data and collaboration facilities, online data room software providers have many industries among their clients:

M&A

This deal is one of the most common use cases for virtual data rooms. It is not surprising since the original reason for solution development was to facilitate mergers and acquisitions. As a result, the platform can provide everything you need to investigate sensitive documents thoroughly and support communication between partners 24/7.

Due diligence

Due diligence always involves the non-stop exchange of sensitive data. Therefore, only if all parties are confident in protecting intellectual property and assets, diligence processes move faster. Fortunately, the digital data room software can guarantee robust data security and optimization by simplifying tasks so that participants can complete their due diligence processes much quicker.

For more information, see the Virtual Data Room Guide for Due Diligence

Fundraising

For fundraising, directors need long-term storage space for financial data. In addition, this transaction includes no fewer participants than other complex ones. Luckily, virtual data rooms simplify document and user management. Moreover, the platform provides transparency, which positively affects relations with investors and creditors.

For more information, see the Virtual Data Room Guide For Investors

Start-ups

For startups, a virtual data room tool is a way to show investors and others that they are serious about business. So, they demonstrate concern for cybersecurity, the confidentiality of financial reports, intellectual property and other business critical documents. Moreover, with data rooms, startups are ready to cooperate with investors transparently from the start.

Banking

The main benefit of virtual data rooms for banking is the efficient mergers and acquisitions performance. Thus, industry employees can take advantage of all the platform’s powerful features. Thus, virtual data room solutions improve accountability, provide secure access control, speed up procedures, and enhance the quality of cooperation.

For more information, see the Virtual Data Room for Investment Banking

Private equity

For private equity, the solution provides complete control over private equity transactions. Also, users do not have to deal with structuring contents manually since the data room includes an automatic indexing feature. Hence, it is easy to manage the large amount of confidential data that private equity implies. What’s more, administrators get options to monitor the use of their data.

For more information, see the Virtual Data Room for Private Equity

Real estate

In addition to secure sharing platforms and collaboration tools, the real estate industry also needs multi-document solutions. In this case, it is important because the agency can simplify things for a potential buyer. For example, a data room user can offer a potential buyer a video tour or show a site plan. Thus, both parties save a lot of time.

For more information, see the Virtual Data Room for Real Estate

IPO

Virtual data rooms help make due diligence easier for an initial public offering. So, for example, when a bank analyzes the organization’s documentation and determines its sustainability, they can ascertain the company’s transparency. As a result, it favors the public initial offering team.

For more information, see the Data Room for Initial Public Offering

Life sciences

Life sciences also include a large number of participants, from medical experts to IT specialists. For directors, in turn, it is important to ensure the secure flow of data and full control over it. So, thanks to virtual data room software, they can do this and prevent leaks of clinical trial data, patient information, etc.

Bankruptcy and restructuring

These projects require strong privacy and compliance mechanisms since they involve data collection and verification procedures. One of the most common reasons for the delay in bankruptcy and restructuring processes is the lack of necessary data. Data room software solves this problem by offering innovative tools for logical document management. 

For more information, see the Virtual Data Room for Bankruptcy and Restructuring

Five reasons your team needs virtual data rooms

First of all, modern directors choose state-of-the-art tools for doing business. Fortunately, there are many programs for this on the information technology market now. However, a virtual data room is one of the most proven platforms that allows users to store and exchange confidential documents. So, what are the reasons for using virtual data rooms?

1. Secure online repository

If you still use paper documents or file-sharing services, you probably face repetitive tasks and worries about security. For example, you can’t track your data usage, ensure total information security, and share sensitive data with no fears. If this is true, your team needs secure virtual data room software to get cutting-edge features for streamlined workflows.

2. Accountability

Accountability is one of the primary reasons for buying virtual data rooms because customers get high-tech opportunities for cooperation with investors. In this way, directors provide confidential information in a convenient and secure environment. Investors, in turn, appreciate it and are favorable to these partners, trusting them due to transparency.

3. Data access anywhere

The virtual data room software makes it possible to work no matter where you are. As a result, a board of directors, parties to transactions, and other users have time to perform much more tasks far from their office and physical documents. It is worth noting that working online is also an attractive advantage for investors, as they are reluctant to spend time and money on business trips.

4. Smooth transaction flow

Whether you are a member of due diligence, M&A, initial public offering, or other business-critical projects, a virtual deal room has powerful features to make them easier. Thus, all relevant persons get the tools for cooperation, security guarantees, ease of use, and saving time on more critical tasks. All this positively affects the course of transactions and brings its successful completion closer.

5. Reduced costs

The use of physical data rooms entails high costs for rent and document processing, not to mention the enormous damage in case of leaks. Regarding the latter, these financial losses are also likely when using unreliable document-sharing services. So, if you want to avoid this kind of expense and get more benefits, virtual rooms are worth your investment.

Yet, there are even more reasons why customers choose online data room providers. However, they mainly do so because of the high level of security, ease of use, and dozens of ultra-useful features for all processes.