There are numerous data room services in the market, but there is no universal solution. Providers are concerned about functionality and security while making software that meets specific business needs. There are options that are best suited for a certain industry: law firms, real estate transactions, and financial institutions. Some virtual data rooms are best for small or medium-sized companies, while others are designed for corporate use.
We analyzed the best virtual data room providers on the market and identified the TOP-5 VDRs to help your business.
Such criteria as convenience, security, price, functionality, configuration and quality of technical support were taken as a basis for data room comparison. There are also identified the main features of each of the best data room providers in this article so that you can assess at first glance how well this solution is right for you.
iDeals
By the set of criteria, iDeals is a great online service. This is one of the most popular data room websites. You can try the ideals for free for 30 days. It is a tool that is convenient for small and mid-size companies. If your business is in real estate management or M&A, you need due diligence or quality board communications.
Features and Functions
- Mass download of 25 different file formats,
- Control of data privacy,
- Drag to load,
- Automatic index numbering.
The electronic data room works well on any OS, including Android and iOS-based tablets and smartphones. You do not need to install additional plugins.
In addition to the functionality and convenience of ideals, it also has a flexible price orientation. The enterprise can choose from three packages: Enterprise, Business, or Pro, depending on the number of users and the required set of business functions.
BrainLoop
BrainLoop is a virtual data room suitable for large and medium businesses. Some small companies also note the ease of using BrainLoop in their daily activities. The software is distributed according to the SaaS standard, which allows this tool to remain reliable and secure under any conditions.
Features
- Ideal for protecting an organization’s sensitive data,
- It has tools that allow to carry out due Diligence and conclude M&A agreements,
- Board and committee communications Tools,
- Can be used in offline mode,
- Works well on any mobile device, regardless of version.
In addition, the BrainLoop data virtual room is a software solution that integrates seamlessly with other applications you use in your workflow. For example, the intimates into MS Office tool, which makes it easier to interact with documents several times.
Intralinks
In the list of the best data room providers for M&A, you will necessarily find Intralinks. It also fits well with large and medium-sized enterprises. Try the 30-day free version to make sure that Intralinks is exactly what you need. It has an intuitive interface, and the Shi helps to analyze and manage the data you store in the repository. You can also add watermarks to your files and take advantage of the automatic index.
Key Intralinks features and functions
- Intralinks provides a detailed analysis of the activities of users in VDR,
- It supports English, German, French, and a few more as well,
- Mass upload of files and folders to the repository,
- Quality round-the-clock technical support.
There are three plan packages, among which you can choose the optimal one. The units differ in functionality: choose the option that suits you by cost and a set of necessary options.
BOX
If you need online data room software, with which a good interaction consists of the first contact, then Box fits you the best. There are no complicated new functions in it: it is a simple workhorse. The functionality of this VDR may not be sufficient for M&A transactions or for real estate transactions. Meanwhile, Business Box is suitable for file storage, communications, and other daily operations when we talk about small commands, freelancers, and startups.
You have access to your documents anywhere and anytime. Share them, manage access settings, view from your desktop or mobile device, access stats and quickly find the information you require with file preview.
Key features
- Securely managing,
- File locking feature,
- Custom branding,
- Auto-expiration.
Simple, convenient, and safe tool in your pocket, or it’s better to say – in a Box.
Firmex
When a business reaches the level where it needs to raise funds, partnerships with investors, M&A agreements, or real estate transactions, Firmex will be excellent. This tool is considered to be one of the safest not only in Canada but also in the whole world. 15,000 new data rooms appear in Firmex yearly.
Features of the service
- Convenient file management,
- Seamless auto-indexing,
- Invaluable security level,
- Excellent service of client care.
Conclusion
What to choose if all data room services have something special? Create a list of your own virtual data room assessment criteria and select the best solution based on this. For example, you can focus on specific business needs and options, compare different VDRs at prices, available cloud storage volumes, and so on. Try different data room software options with a free, full-featured experience from 7 to 30 days.
Your personal best data room providers rating may differ from ours, because this TOP-5 is universal, and your personal list focused on your business needs is more valuable anyway.
