How to Choose the Best Data Room Provider
A virtual data room is an online platform that is used to store, share and manage business documents. It is a secure repository that allows multiple parties to access information from any place and at any time. It is used most often for M&A transactions, legal matters such as regulatory compliance and corporate development.
When choosing a virtual data room provider you should consider the security, functionality, and cost. The top providers are certified for cloud software security and have specific features for industry, such as the ability to be compliant with regulatory standards like GDPR. They should also offer an open pricing structure and be simple to use.
Intralinks is known for its high-level security as well as its intuitive interface and smart automation. The company’s solutions for managing documents are used by companies of all sizes around the world to manage transactions and speed up due diligence for M&A. They are also used for collaborative projects with outside parties like private equity, investment banks and law firms.
iDeals is another popular VDR offering a sophisticated interface and advanced tools for collaboration and management. Its security features include document tracking, real-time activity alerts and eSignature with KBA. iDeals provides a cost-effective solution for companies with a modest budget.
Firmex is the most reputable virtual data room with high-level security. They also have experts on staff. It is available for a two-week free trial and is suitable for businesses of all sizes. Its most important features include a smart interface, advanced admin rights and a customizable user permission system.