When comparing data room providers, it is crucial to take a look at their features in terms of security, as well as their pricing. This article will aid you in evaluating your options and find the best service that meets your business requirements.
The term „virtual data room“ is used to refer to an online repository for storage and sharing of private documentation. The documentation is usually valuable and requires confidentiality in order to protect intellectual property. Virtual data rooms are utilized in M&A due-diligence, as well as other business transactions. However, the technology can be useful for any company that requires sharing sensitive documents with other parties.
While free VDRs may seem appealing but they are often lacking crucial security features and are prone to data theft and data breaches. If your company has significant worth investing in a safe and highly regarded VDR is highly recommended.
Certain VDR providers charge per project, which is great if you need to share documents only for a finite transaction. Other providers charge on a per-user basis, which is more expensive but offers unlimited data rooms and storage.
Some vendors are specific to industries, such as iDeals VDR which was built to support M&A Due Diligence. Intralinks is a massive deal vendor that offers advanced features, including real-time vector watermarking, class labels, and more. In addition, they offer the most comprehensive compliance certifications, which include FedRAMP, HIPAA and GDPR. They also provide strict control over access and also detect suspicious behavior for instance, when employees download the entire library of documents from a company.