A virtual data room is a safe repository of documents that is that are used to facilitate M&A transactions due diligence, M&A transactions, and other business processes that are sensitive. These online data rooms are a must-have for companies working on high-risk projects which require efficient collaboration and management of documents. There are a myriad of factors to consider when selecting the right VDR, including security data room usability, usability, analytics and customer support pricing. To help businesses make an informed decision, this article reviews the best providers in all of these areas.
1. iDeals
iDeals is a highly rated VDR solution that features a simple interface and advanced security features, like security presentations, 2-factor authentication, and NDAs that can be customized. It also provides a robust reporting system and a well-organized dashboard. The platform is ideal to handle both large and small transactions making it an ideal option for most businesses.
2. Box
Known for its simple and user-friendly interface, Box is an affordable and feature-packed virtual data room that is a favorite among users in the industry. Its major advantages include an easy and fast setup, scalability to fit any size of business and compatibility with a variety of platforms. The platform also provides many security options such as watermarking and safety check to ensure the security of documents.
3. Ansarada
Firmex, a provider that specializes complex processes, has revolutionized the market with its ability to simplify mission critical projects for small and large enterprises. This VDR helps with due diligence, M&A and financial transactions. Its robust role-based question and answer capabilities can help streamline these processes.