Selecting the Right Data Room Provider
A virtual data room is an online platform used to store, share and manage business documents. It is secure and allows multiple parties to access information from any place and time. It is commonly used for M&A as well as legal issues regulatory compliance, corporate development activities.
When choosing a cloud-based data room provider, you must consider the security, functionalities and cost. The best providers are certified for cloud software safety and have industry-specific features such as the ability to be compliant with the regulations like GDPR. In addition, they should have an easy pricing structure and be easy to use.
Intralinks is renowned for its high-level security as well as its intuitive interface and smart automation. Document management solutions from the company are utilized by businesses of all sizes to manage documents for transactions and speed up due diligence during M&A. They also are used in collaborative projects with outside parties like private equity, investment banks and law firms.
iDeals is another well-known VDR with a smart interface, offers advanced tools to collaborate and manage. Its security features include document tracking, real time activity alerts, and eSignatures with KBA. iDeals is a good choice for companies with mid-sized budgets, as it is less costly than other providers.
Firmex is the top virtual data room offering high-level security. They also have an expert team. It offers a no-cost two-week trial that is suitable for companies of all sizes. Its main features include a smart interface with advanced admin rights, as well as an adjustable user permission system.