Comparing Virtual Data Room Providers

Comparing Virtual Data Room Providers

Comparing the various providers of virtual data rooms is essential. You should consider their security, functionality, and price. This article can aid you in evaluating your options reference and find the best provider to suit your business’s needs.

The term “virtual data room” is used to refer to an online repository used for the storage and sharing of private data. The documents are usually of high value and requires confidentiality to protect intellectual property. Virtual data rooms are utilized in M&A due diligence and other business transactions. However, this technology is beneficial for any business that requires sharing confidential documents with external parties.

While free VDRs may sound tempting however they usually lack essential security features and are vulnerable to data theft and data breaches. If your business is of significant importance, it’s strongly recommended that you invest in a well-respected, secure VDR.

Certain VDR providers charge per project, which is ideal when you want to share documents for only a single transaction. Other providers charge on a per user basis, which is more expensive, however provides unlimited data rooms and storage.

Some vendors are specific to industries, like iDeals VDR which was built to aid in M&A Due Diligence. Other vendors, such as Intralinks, are aimed at large-scale deals and feature advanced functionality like real time vector watermarking and classification labels. They also offer the most comprehensive certifications including FedRAMP HIPAA GDPR. They also permit an extensive control of access and also detect suspicious behavior for instance, when an employee downloads the entire collection of documents from the company.