With so many options available in the VDR market, businesses often find it overwhelming to choose the “perfect” virtual data room. That’s because not every data room software has the same number of features and the quality also varies.
Similarly, some virtual data rooms are particularly made for specific transactions, and using them for other purposes may not yield the desired results. However, this guide will help you learn more about virtual data rooms, their amazing features, and what they are specifically used for.
Top 10 Online Data Room Software
It is important to note that this list is prepared on the basis of features, customer ratings, and other similar factors.
iDeals virtual data rooms
iDeals Solutions is a UK-based company with offices in different European countries. The company is specifically known for software technology such as a data room. iDeals pioneered the data room industry, and their data room services have won the trust of hundreds and thousands of lawyers, bankers, managers, top professionals, and businesses of different types and sizes.
iDeals virtual data rooms possess all necessary and loads of advanced features. These VDRs have a built-in library of legal forms required for litigation processes.
Apart from that, iDeals VDRs are extremely useful in bankruptcy cases. iDeals’ customer support service differentiates it from competitors, and the VDRs are deployable on Mac, Windows, Linux, Android, and iOS. iDeals offers free trials and has three different pricing plans.
Datasite
Merrill Corporation is a highly trusted name in the M&A industry. The company provides solutions for complex M&A transactions, and Datasite is one of the best VDRs when it comes to M&A due diligence. Datasite’s analytics, impeccable security, and 24/7 customer support boost the chances of successful deals.
Most notable features include project management, queries management, redaction, digital watermarking, sandbox, dashboard, and visual analytics.
Intralinks
Intralinks has secured a decent rating on Capterra, and these virtual data rooms are mostly used for business deals. Intralinks offer three basic models to deal makers and is pricier than its competitors. However, even after being expensive, Intralinks VDRs are highly used for mergers and acquisitions.
These VDRs are equipped with all the necessary tools for smooth deal-making, and their robust customer support makes their case stronger. On the other hand, Intralinks VDRs are slightly difficult to use, and customization is also not a strong point of Intralinks. In short, Intralinks is more suitable for large-scale business transactions.
FirmRoom
If you are looking for a virtual data room that is super easy to use and enriched with useful data storage and management features, then FirmRoom is the option to consider. In fact, Firmroom data rooms can be easily integrated with Slack, Salesforce, and Office 365.
FirmRoom is ISO27081 certified and serves a wide range of business industries, specifically M&As. Big names like J.P Morgan, Baird, and Pfizer are regular users of Firmroom data rooms. The company offers a 30-day free trial and charges annually.
CapLinked
Caplinked virtual data rooms are one of the oldest in the market. Starting its operations in 2010, Caplinked has served thousands of small, medium, and large-sized organizations. Caplinked virtual data rooms boast all important data room features, and their ease of use makes them a great choice.
Most notable features include instant messaging, a dashboard, and editable MS Word and Excel documents. The company offers a free trial and charges annually.
ShareFile
Developed by Citrix Systems, Sharefile makes it unbelievably easy to share and store highly confidential business data safely. Venture capitals, mergers, acquisitions, private equity deals, due diligence, and other complex business transactions are easily manageable with ShareFile VDRs.
One of the most notable features of ShareFile is document tracking; you can easily track any document. Apart from that, ShareFile is integrable with Microsoft OneDrive and Google Suite. With high-end security, ease of use, a 4.6-star rating on Capterra, and flat-pricing, Sharefile VDRs are an option you should consider.
SecureDocs
SecureDocs board 4.9 rating on Capterra, and these virtual data rooms are commonly known for their intuitiveness, fast setup, ease of use, and very transparent pricing. SecureDocs have all important features, including watermarking, drag n drop, bulk uploads, audit logs, and permission settings.
However, the only drawback of SecureDocs VDRs is that their collaboration tools are not as good as their competitors. However, the company offers a free trial and has a very strong customer support service.
Digify
Digify virtual data rooms are very effective in sharing confidential business documents with your investors, partners, and clients. Digify VDRs are commonly used in litigation, mergers and acquisitions, fundraising, and similar data-sensitive transactions.
Most notable features include image protection, document access revocation, collaboration tools, automated watermarking, license management, and audio and video protection. Digify enjoys a 4.9-star rating on Capterra.
Google Workspace
A highly secure and feature-rich data repository and an online collaboration platform, Google Workspace is serving thousands of companies and professionals across the globe. Google Workspace has over 11000 reviews on Capterra and a 4.7-star rating.
Google Workspace primarily facilitates collaboration between remote teams and geographically dispersed businesses. HD audio and video conferencing, screen recording, content library, and team messaging are notable features of Google Workspace. The best part? Google Workspace has a free version too.
Vitrium Security
Safely storing intellectual properties, patent rights, product designs, and other important business documents has been made easy by Vitrium Security. Businesses, professionals, and corporations use Vitrium data rooms for data management and deal management. A strong customer support service and wide range of useful features make Vitrium data rooms a valuable business asset.
Final Words
Software technology such as data room software has become an integral component of modern-day businesses. Different virtual data rooms possess different types of features and specialize in different industries. The above-mentioned names can help you choose the right one for your company.
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