How to Find the Best Virtual Data Room Provider

Top-7 most rated virtual data room providers 

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iDeals Virtual Data Room

Top Rate
5.0

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iDeals is one of the most well-known and high-quality dataroom providers. It is one of those vendors that will take care of every single detail to make sure the customers are satisfied. iDeals offers all the features a business might need working with corporate documents and holding deals. That’s why this solution will suit most organizations that operate in various business fields.

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Merrill DatasiteOne

Top Rate
4.7

Being one of the oldest online data room providers, Merrill gained a reputation of reliable service. You will find many big corporations among its customers, and it might be tempting for you to join them. However, before doing so, you should understand if it will be a fitting option for you because you’ll have to pay a fairly high price for this data room.

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Intralinks

Top Rate
4.5

Intralinks is another well-experienced VDR (data room) provider on the list. And obviously, it allows this vendor to set a higher price for its services. While this provider might seem not flexible enough, built-in Artificial Intelligence saves the day and attracts many customers. It automates many processes related to organization and structuration of documents.

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Donnelley Financial Solutions

Top Rate
4.3

If the name of this VDR provider feels old-school to you, that’s the moment when your senses don’t fool you. It exists since 1983 and, obviously, can brag about its rich experience. Using this provider, you will be in the company of PayPal, Uber, and other big brands that happen to be Donnelley’s customers. While it is enhanced with AI, it lacks customization and some other function, so it won’t fit everyone for sure.

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SecureDocs

Top Rate
4.2

If the name of this VDR provider feels old-school to you, that’s the moment when your senses don’t fool you. It exists since 1983 and, obviously, can brag about its rich experience. Using this provider, you will be in the company of PayPal, Uber, and other big brands that happen to be Donnelley’s customers. While it is enhanced with AI, it lacks customization and some other function, so it won’t fit everyone for sure.

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Box

Top Rate
3.7

Box stands out among all electronic data room providers because of its unusual history. This vendor began its journey as a file-sharing platform and later evolved into the electronic data room. Its data rooms are very easy to use and have many features that simplify the paperwork. Also, Box offers apps for Android and iOS that allow users to work with documents when they’re out of office.

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Firmex

Top Rate
3.0

This provider brings a tailored solution that can satisfy any needs of companies in different fields. Firmex offers all the features a modern business needs to maintain the paperwork and close deals successfully. But the vast number of tools makes the interface more complicated.

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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.

Data Room Providers

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

Reliability

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.

Accessibility

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.

Support

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.