Currently, there are hundreds of virtual data room providers in the global market. Generally, it should sound good that the virtual data room market is growing, and in reality, it is. However, it also somehow compromised the overall quality of data room services because some vendors are not even certified to host virtual data rooms. This also created a problem for business owners, entrepreneurs, and professionals, especially those who are new to VDR technology.
If you are among those who are not sure which data room vendor you should choose or which one will be best for your business, you can compare the virtual data rooms given below. We have compiled a grand list of some of the best data rooms functioning in the market right now. Let’s get to it.
Best choice online data room software in 2022
Please be noted that this list is prepared on the basis of customer reviews and data rooms’ overall functionality in different business sectors. You can also compare some of the best choice data rooms on this webpage.
1. iDeals virtual data rooms
iDeals Solutions is a leading virtual data room service provider headquartered in the United Kingdom. The company has been serving the market since 2008 and has established itself as one of the best data room vendors in the world. Although iDeals data rooms are immensely famous in the legal industry, financial sector, top corporate professionals, and managers, their data rooms can be distinguished for the following reasons:
- Industry-leading data room security
- Voluminous data management
- Bankruptcy case management
- Legal forms library
- Excellent customer support service managed by industry experts
- Availability for all common operating systems (Linux, Windows, Mac, iOS, and Android)
- Support of 14 different languages.
2. Merrill Datasite
Merrill Datasite is another leading in the data room software industry that most targets medium and large-sized organizations in the banking sector, law firms, corporate development, mergers, acquisitions, and private equity firms. One of the most interesting features of Merrill Datasite is that you can upload zipped files up to 50GB. Apart from that, Merrill Datasite offers advanced project management features for complex processes like due diligence.
Another highly regarded data room provider, Intralinks, is a famous name in medium and large businesses. Their specialties mostly lie in providing versatile solutions for due diligence and mergers and acquisitions. Intralinks is an AI-based virtual data room that allows better data management and data analysis. Additionally, these data rooms are easy to use and are available in multiple languages like German, French, English, etc.
Brainloop provides a wide range of SaaS solutions, including virtual data rooms, board communications, and secure collaboration platforms. The company deals with all business sizes, including small, medium, and large enterprises. Talking about the functionality, you can integrate MS Office with Brainloop data rooms and use it in offline mode as well. These data rooms support almost all types of devices, such as mobile phones, tablets, laptops, and desktops.
Ansarada is a virtual data room that can be used by professionals, freelancers, small businesses, and the corporate sector, and they have highly flexible pricing plans. Ansarada also provides customized solutions for M&As, Deal management, and team collaboration. Apart from that, Ansarada boasts artificial intelligence for data management, document analysis, and file assortment. You can also integrate Dropbox and Google Drive with your Ansarada virtual data rooms.
Just like Ansarada, Digify is also diverse online data room software that caters to the needs of all business types and sizes. They have flexible pricing plans for businesses, individuals, and teams (starting from $96 per month). Digify boasts all standard and some advanced features for safe data storage and sharing, such as file tracking, data encryption, access control, and customizable watermarks. You can integrate Box, Dropbox, and Google Drive with Digify virtual data rooms.
Firmex is another versatile solution that offers great solutions for complex processes like litigation, due diligence, and regulatory compliance. Firmex data rooms are immensely popular in the legal industry and corporate sector. Apart from that, Firmex also facilities small and medium-sized businesses. Notable Firmex data room features include watermarks, auto-indexing, audit trails, restricted document viewing, and drag-n-drop functionality.
SecureDocs online data room software is a highly reliable option for safe data sharing and business communications. Businesses of all sizes use these VDRs specifically for safe data storage and deal-making; SecureDocs data rooms are easy to set up. Notable features include electronic signatures, customizable NDAs, two-factor authorization, bulk user invites, permission-based user roles, and dynamic watermarking. The company also offers unlimited data storage space.
Rounding it up
Online data room software is not just another business solution, it affects your workflow, and a wrong decision can cost you thousands or even millions because data breaches are often very costly. Choosing a certified virtual data room provider can surely minimize the risk factor.
Photo credit: The feature image has been done by Sergey Nivens.