Choosing the Right Data Room Provider
How to Select the Right Data Room Provider
A virtual data room is an internet-based platform used to store, share and manage business documents. It is a secure repository that allows different parties to gain access to the information at anytime and from any location. It is most commonly used for M&A as well as legal issues regulatory compliance, corporate development activities.
When choosing a virtual dataroom provider, you must consider the security, functionalities and price. The best providers are certified for cloud software security and will offer specific features that are tailored to the industry, like the ability to comply with the GDPR and other regulations. Additionally, they must have a clear pricing structure and be user-friendly.
Intralinks is renowned for its high-end security user interface, intuitive interface and intelligent automation. The company’s document management solutions are utilized by companies of all sizes across the globe to manage transactional documents and speed up due diligence for M&A. They are also used for collaboration with external parties such as investment banks, private equity and law firms.
iDeals, another popular VDR with a smart interface, has advanced tools to collaborate and manage. Its security features include document tracking alerts for activity in real-time and the ability to eSignature using KBA. iDeals is a great choice for companies with mid-sized budgets because it is more expensive than other providers.
Firmex is a renowned virtual data room provider with the highest level of security and an experienced team. It offers a free two-week trial and is useful business tips and hints suitable for businesses of all sizes. Its primary highlights include a sophisticated user interface, advanced admin permissions and a customizable system of user permissions.