Since the advent of cloud storage, online storage of personal data has increased markedly, but not all cloud platforms are a reliable way to store private information, especially when it comes to sensitive business data. Virtual data room is the most reliable way to store and share valuable data on the Internet, they provide a reliable level of security, the flexibility of configuration and management, thereby allowing various transactions to take place remotely. In this article, we will look at the capabilities of VDRs in more detail.
Why is virtual data room so important to your business?
News of endless company data breaches is flying around the world almost every day. It’s a significant blow, not only to the company failing but to the economy as a whole. Organizations do not pay enough attention to security, and they are not prepared for emergencies such as a coronavirus pandemic. Thus, their productivity declines significantly, as many prove conservative enough to deny digitalization and remote collaboration tools.
The emergence of virtual data room systems in companies’ operations can bring them advantageous collaboration and cooperation conditions, proper security, and document management. VDRs provide remote access to software from any device and location, which means you can continue to work at your usual pace, regardless of the circumstances. They’re great for storing any sensitive information, and they can replace physical data storage, for a variety of transactions.
Overview of the best VDR provider options
The market for virtual data rooms today is huge, and you may have a hard time deciding on a single provider. Below, we’ve highlighted a list of top-rated VDR providers that have been topping the list for several years in a row:
- iDeals Review
iDeals is considered the best in the business and offers a comprehensive list of different features. It is designed to manage large projects, is equipped with advanced security features, has excellent integration quality and flexible space settings. iDeals also provides automated activity reporting and interface branding, and has flexible pricing plans.
- Drooms Review
Drooms’ pricing policy is very simple and transparent, the fewer features you need, the lower the price. So you can pick your own list of features that will really be useful to you, and won’t just exist idle. Its security features and modularity are also top-notch.
- Intralinx Review
Provider Intralinks makes extensive use of advanced technology in its operations. For example, VDR uses artificial intelligence features to optimize and accelerate many business processes, such as organizing and managing documents and closing deals. Also thanks to the AI capabilities, you will have access to detailed statistics that will help you predict transactions, manage projects, and correct mistakes in time.
- DataSite Review
Datasite VDR software can support transactions of any complexity, including mergers and acquisitions, fundraisers, and IPOs. This provider will be able to help you with your business as it is part of the Merrill Corporation and is closely associated with all the services it provides.
- Dealroom Overview
Dealroom is a data room focused on mergers and acquisitions and all of the upstream processes, including due diligence and post-transaction integration. VDR provides excellent remote collaboration, detailed permissions, and security features, so you can relax during the M&A process and be sure your data stays safe.