There are many virtual data rooms, and each has a different functionality. It is important to examine each vendor and choose the one that is most suitable for your needs. To do so, read our article on the top online data rooms on the market, and their top features.
Free online file sharing services may be great for sharing basic documents, but they do not provide the security that is required by M&A diligence or other business processes, such as partnership or fundraising. In these cases it is recommended that a data area be built with advanced security features like granular permissions for access, watermarking, or auditing.
A user-friendly interface is also essential. Look for a vendor that allows customization of the logo along with the terms and conditions and the general layout of the data room. Additionally, think about the number of users that can be invited to join the project, and the per-storage or per-page pricing model.
iDeals, the VDR solution that is well-known, has a large customer base that includes DuPont and Starbucks. It also has an intuitive user interface that is simple to use, as well as a feature set that is robust and includes bulk uploads, zoom integrations, and a powerful tool to search documents or folders. Some users are unhappy with the high price of plans as well as poor support. Merrill Datasite, on the other hand, is often more expensive than its rivals, but provides advanced security features such as encryption of data and 24/7 backup.