There are a myriad of virtual data rooms and each one has different functionality. This is why it is essential to review them carefully and find the top-quality provider that matches your requirements. To do so, read our article about the best online data rooms on the market and their top features.
Free online file sharing tools may be suitable for sharing documents but they lack the security required by M&A diligence or other business processes such as fundraising or partnership. In these cases it is recommended that a data room is created with advanced security features, such as granular access rights for access, watermarking, and auditing.
An intuitive interface is also an essential. Look for a vendor that allows you to customize the logo as well as the terms and conditions and the general layout of the data room. Additionally, think about the number of users that can be invited into the project and the per-storage or per-page pricing model.
With a strong customer base including DuPont, Starbucks and L’Oreal, iDeals is a well-known VDR solution that offers a simple visual user interface and a robust set of functionality that includes bulk upload zoom integrations, bulk upload capabilities and an efficient search tool that allows you to find specific or partial matches in folders or documents. Some users are unhappy about the high cost of plans as well as the inefficient support. Merrill Datasite, on the other hand, can be more expensive than its competitors but provides advanced security features such as encryption of data and 24/7 backup.