There are many virtual data room providers and each one comes with a distinct capabilities. It is important to carefully analyze each vendor to find the one that is most suitable for your needs. For more information, please go through our article about the best online data room providers and their most important features.
Free online file sharing services may be ideal for basic document sharing, but they don’t provide the security that is required by M&A diligence or other business processes, such as fundraising or partnership. In these situations it is recommended to use a dedicated data room with advanced security features, such as watermarking, access permissions that are granular, and auditing capabilities is recommended.
A user-friendly interface is essential. Choose a vendor that allows customization of the terms and conditions as well as the logo and layout of the dataroom. Additionally, you should consider the number of people who can be invited to join the project and the per-storage or per-page pricing model.
iDeals, the VDR solution that is well-known, has a large customer base, which includes DuPont and Starbucks. It also comes with an intuitive user interface that is simple to use, as well as a comprehensive set of features that includes bulk uploads, zoom integrations, and a powerful tool for searching documents or folders. Some users complain about the high cost of plans and the poor support. Merrill Datasite, on the contrary, is usually more expensive than its rivals, but offers advanced security features like encryption of data and 24-hour backup.