Top-7 most rated virtual data room providers
Looking for a suitable tool, a modern business gets to choose among a wide variety of virtual data room providers. That’s good and bad news at the same time. The good part is that you can always find what will precisely fit your needs. However, the more options you have, the harder it is to pick one – and that’s the bad part.
On first glance, all online data room providers look rather similar. They all have pretty much the same features, offers, and approaches. Although, when you take a closer look, you can see that there are differences between them. Therefore, to choose the best virtual data room for your needs, you have to invest some time into the research.
Electronic data room providers have different origins – and that’s the factor that significantly impacts the software in terms of versatility and agility. Also, while some of them try to cover every business process that involves documents, others prefer to focus only on certain kinds of deals and industries. It influences the set of features a specific provider offers.
So before jumping to the research, you first should determine your needs and understand what will you use the data room for. And then you can go through our reviews on this website to find the correct instrument for your firm. We’ve laid out all the features of the best virtual data room providers so that you can go through them quickly and find what fits you.
Compare TOP virtual data rooms
As you can see, even though we’ve picked only the best data room providers, there are still many of them. That’s why you should start with understanding why do you need the online deal room for. What kinds of deals will you hold using it? Which functions do you need to feel comfortable maintaining your corporate documents? How often will you use it?
Once you answer these questions, it will be easier to determine your requirements and realize what you’re looking for. Another thing you should do is to figure out your budget. Virtual data room providers set different prices for their services. And sometimes you pay more only for the well-known brand while the software itself is fairly mediocre. Therefore, you should know in advance how much money are you ready to spend on the data room. It will help you to instantly drop options that are too expensive so that you don’t overpay.
Then you can go through features different providers offer and pick the options that suit your requirements the most. At this point, you want to consider additional criteria. First of all, we advise you to prefer the providers that offer a free trial. It will help you to test the software and see on practice if it fits your business. Pay attention to the interface – how easy is it to use, how well are the features organized. You want to get the software that won’t require any training.
However, issues happen even if you have the most straightforward data room. That’s why the provider should offer a support team that is available 24/7. Thus, even if you will never need it, you still will feel much safer and calmer knowing that you can get help if something happens.
The most valuable benefits of digital data room
Unlike generic cloud storages, virtual data room providers take care of the security of user information. They use the most reliable 256-bit encryption to protect both the storage and data transfer ways leaving hackers zero chances to access the stored documents. Additional safety features like two-factor authentication, watermarks, different levels of access, and other tools allow users to enhance the protection even more. Also, these functions give customers control over invited users and their activity in the data room.
The best data room providers make their software compatible with all devices and platforms. Some of them make it happen to create mobile apps, and some simply offer mobile versions users can access via browsers. But regardless of which way do they choose, customers can enter the data room from anywhere at any moment. It helps to significantly accelerate the deal and make sure that everyone can work with documents even if some participants are on the road.
Having access to the support team is vital because sometimes you need urgent help. Otherwise, the deal is stuck. The best VDR providers offer support teams that are available 24/7/365 so that users will never feel frustrated or lost. So if you face any issue, you can get help instantly so that the problem doesn’t harm the work. Many vendors even provide their customers with a dedicated project manager that will go through the deal along with the users to help them get the most out of the virtual data room.