Best Virtual Data Room Provider for 2017
iDeals Virtual Data Room
IDeals works in the digital data room market since 2008 and its own data room has gained the reputation of convenient and secure cloud-based platform. IDeals VDR is successfully used by the agents of varied sectors such as life science, biotech licensing, investment banking, real estate, fundraising, etc.. The area is particularly convenient when it comes to awkward and time-consuming jobs like M&A deals. In a class of due diligence information space offered by the seller plays the use of a virtual venue where all of the relevant documents are being stored, analyzed, and discussed. The main task of the virtual data room would be to ensure secure document sharing and iDeals accomplishes this duty successfully. The room is shielded on multiple levels: data encryption, watermarks, firewalls, and other features guarantee that documents uploaded into the iDeals virtual data area wouldn’t be compromised.
Along with secure document sharing clients get the exceptionally functional operation environment efficient for implementation of the wide range of actions. The room proves to be great for file storage since each bit is data room virtual systematized and the advanced search tools simplify navigation within the system. IDeals is also famous for its decency of Q&A segment it supplies: the section makes it feasible for a project’s participants to remain in touch with each other, to talk about documents and to find a comprehensive understanding of the tiniest nuances of each document. Hence, iDeals proves to be trustworthy and decent data room supplier.
Intralinks belongs to the oldest players from the VDR marketplace. Being based in 1996 it’s more than 20 years of experience. The company works mostly with big enterprises (such as agents of Fortune 100) and focuses on big-scale deals. On the one hand, it allows the seller to gain an extensive expertise in solving the most complicated riddles and in assisting through the most cumbersome deals. On the other hand, the prices for services are greater than average. Generally, there are three product editions that vary with regard to functions available and that suit certain types of deals. In a circumstance, the basic model is not sufficient for successful deal implementation it can be extended with the support of extra modules which focus on particular procedures. Hence, Intralinks ensures that any customer would get just what his project needs.
The VDR performs all of the functions expected from a classic data room. Besides the protected data storage and exchange, it guarantees smooth collaboration inside and outside the enterprise: the tools offered simplify communication between the employees and give an opportunity to remain in contact with external parties. The deal-making is the main focus of Intralinks and it does its very best to guarantee support on every phase of the job implementation. Particularly helpful it proves to be in a path of due diligence.
Likewise to Intralinks Merrill prefers to collaborate with big businesses and financial institutions. The business claims to be the “global leader” and helps tons of clients worldwide: their VDRs are mainly utilized for the implementation of complicated and awkward deals. Thus, there’s absolutely no wonder that prices for services are pretty high.
The VDR complements another services of Merrill which provides consulting, content management, and financial solutions. Along with DataSite, clients may enjoy such platforms like Bridge, Connect, and DPA. Their main task is to guarantee smooth and productive internal and external interaction and teamwork. Considering the variety of alternatives offered Merrill may successfully take a burden of information management of any enterprise. It means that the client can confidently delegate these tasks to Merrill and focus on more intense nuances of the company’s performance. Anyway, the VDR offered by Merrill abides by all of the industry standards and offers clients with the essential options — secure file sharing, convenient storage, integration with software, intuitive navigation, multiple communication programs, etc.. Regardless, it appears to be more logical to exploit on the VDR from Merrill at a situation when other products of the company are being used also: the customer would experience all the advantages if the services are used in a complicated.
RR Donnelley Venue Data Room
RR Donnelley was created in 19th century, namely — in 1864. Ever since that time it made its way from a mapmaking firm to one of the Fortune 500 companies with almost 12 billion dollars annually in earnings. Today it supplies services associated with printing, communication and digital solutions, etc.. The customers of RR Donnelley include the representatives of healthcare, manufacturing, and other businesses: the grade of operation is rather broad.
Following the plan to expand and diversify their communication services RR Donnelley came up with the idea of launching their own digital platform referred to as “Venue.” Fiscal institutions constitute the vital audience the room was designed for: Venue is designed to aid them in complex local and cross-national jobs. The port of this VDR contains all of the tools and features which are expected to make any M&A deal operate smoothly. However, when it comes to other purposes, kinds of deals and businesses Venue by RR Donnelley may seem to be a bit restricted in its performance. Indeed, though the room is equipped with all the standard functions and guarantees the necessary level of data protection, Venue may be not that suitable for any other endeavors despite M&A deals. Also, Venue is not the main product offered by RR Donnelley: the business treats it as a free service. Therefore, the VDR may not get as much attention as many innovative improvements as it is needed under the conditions imposed by the ever-growing VDR marketplace.
ShareFile Citrix Systems
ShareFile was made in 2005. From the beginning, it performed a part of a venue for safe files trade: FTP sites weren’t efficient and convenient enough to be used. In 2011, ShareFile became a part of Citrix and began a new page in its own development. Formerly Citrix worked on diverse services embodied in these programs like XenApp, NetScaler, and CloudBridge. And ShareFile became the one which was supposed to work as a virtual data room.
The evident advantage of ShareFile is its integration using varied software, particularly with the apps out there free of charge (for instance, DropBox, Google Drive, OneDrive, as well as many others). It is very convenient from the perspective of the customers that prefer to utilize completely free support. But programs open for the free access usually lack safety tools and the degree of data security which they could assure is fairly low. It usually means that ShareFile might neglect to meet expectations of wealthy and serious corporations and enterprises, large law and financial gamers. However, when being exploited as an integral part of another Citrix software ShareFile may come in handy. It performs its role of a VDR successfully but it would not be suitable for complex deals and also for storage of sensitive and confidential information: ShareFile is suggested for small-scale jobs and customers that need a cross-storage platform.
While other players at the VDR marketplace are trying to meet as many customers as possible, Ansarada targets one specific kind of customers, namely — on people involved with the implementation of M&A trades. Really, Ansarada says it had been created exclusively for facilitation of deals between buyers and sellers. From the perspective of its functionality, this VDR is characterized by several pluses and minuses. Apparently, when it comes to merger and acquisition projects Ansarada simplifies the life span of the both sides, of their advisors and analysts considerably as most of the functions provide and also the interface are designed in the way that speeds up and facilitates the whole process. However, the room appears to be not the ideal choice for some other types of bargains: Ansarada cannot be treated as a fantastic platform for long-term data storage and exchange. Therefore, it works better when being utilized for individual deals.
Ansarada is an Australian firm that emerged in 2005. Since then it tried to penetrate in the VDR marketplace and also to make an affirmative emphasis on the segment of M&A deals. As of now, their software had been published in its 3rd version. However, the functionality of the platform remains standard and doesn’t go past the set of instruments necessary for successful M&A.
Brainloop Secure Dataroom
Brainloop is the vendors with its headquarters in Germany. Its main focus is assistance throughout deal-making collaborations. It usually means that Brainloops provides varied software that simplifies and facilitates communication between the project participants and ensure secure information exchange. While Ansarada and RR Donnelley make emphasis on mergers and acquisitions and design their own VDRs in compliance with the latest requirements sellers and buyers, Brainloop has introduced the platform which has no specific specialty: Secure Dataroom will be convenient and beneficial for many deal-makers who search for the secure environment for data exchange. The assortment of its clients demonstrates the universal nature of this VDR: social media sites (e.g., Twitter, Foursquare), Allianz, the European Space Agency, etc..
The VDR looks like a Swiss Army Knife: being outfitted with a wide assortment of tools Secure Dataroom turns to the instrument that may come in useful disregarding the kind of the undertaking, the purpose of a use, and the sphere the customer works in. In addition, the download of the software isn’t required. On the other hand, the intricate operation of this platform may cause delays in the execution of trades: a particular time may be required to introduce inexperienced clients into how Secure Dataroom functions.
Firmex combines characteristics of the massive VDR vendors and courageous small-scale startups. On the one hand, you enjoy the functionality inherent to seasoned suppliers. At the same time, you see constant innovations and medium prices that describe fearless newbies who fight for the own niche. Being a relatively new player in the market, Firmex has managed to acquire the respect of several customers worldwide: the provider claims to encourage over 75,000 customers. On among the customers, the one can notice such well-known titles as Deloitte, PWC, E&Y, Deutsche Bank, and many representatives of investment banks, legal firms, energy, mining, pharmaceutical businesses, etc..
The VDR proves to be the most suitable for acquisition and merger transactions since it is equipped with numerous instruments that facilitate communication, accelerate due diligence, and reevaluate every aspect of cooperation. Generally, the room gives the typical set of options required for successful deal-making. For example, it can boast of an excellent customer service. But, Firmex owns lots of unique and innovative features to surprise any client. “View As” alternative is of a particular interest: it allows the platform owner to test out how all the people viewpoints the VDR and also to make sure that none of these documents was accidentally viewed by a wrong user.
Box Virtual Dataroom
Though VDR providers don’t constitute the primary focus of Box the key reason it ought to be included on this listing is Business on Box platform developed inside the business. When users begin dealing with this item, they notice immediately the similarity inherent to Box and varied file sharing solutions accessible free of cost (e.g., DropBox). While exploiting the user-friendly interface inherent into freemium services Box proves to be much more advanced concerning data security. In addition, the platform offers the wider assortment of instruments and provides clients with numerous characteristics which make internal communication and collaboration with external partners simpler and convenient. The set of options immanent to Box is rather standard: seasoned users wouldn’t detect anything innovative or surprising one of the functions. In the case, the platform provides such options usual for VDRs as segregated consent classes and automatic expiry of access to certain files.
But, Box appears to be suitable for individual consumers which aren’t involved in large scale and intricate trades and jobs. The room lacks specific options which ease M&A trades and ensure multi-sided data protection. Therefore, corporate customers and organizations coping with highly confidential data storage and market may treat Box as maybe not the best selection.
SecureDocs Virtual Data Room
SecureDocs is the vendor that supplies clients with two chief products — a Virtual Data Room and Contract Management Software. Both products are supposed to generate the life of businessmen more simple. SecureDocs helps the agents of diverse industries and helps accomplish jobs concerning M&A, intellectual property licensing, fundraising, life sciences, investment banking, law, private equity, etc.. The business claims to encourage deals where over 100 billion dollars were included.
The VDR offered by SecureDocs is equally suitable for short and long-term usage as it is equipped with all of the attributes necessary for individual manipulation and for large-scale collaboration between several businesses. The room can be set up within 10-15 minutes and can be simple in exploitation. Thus, the customers do not waste their time on getting used to navigating the file system. Taking into consideration the protection of information customers don’t have any reasons to worry as SecureDocs equips the VDRs with varied security protocols and security tools that prove to be the industry standards. Together with high-level protection, customers would gain from such handy and beneficial alternatives as digital rights management, action monitoring, etc.. Any area can be customized and also be adjusted to the requirements of a specific project. Even though the VDR services supplied by SecureDocs end up being adequate, the prices charged for the information room manipulation remain reasonable.
Virtual Data Room Review Editors Pick
The VDR market keeps rising and new virtual data room providers emerge regularly. But, there are sellers that have been able to achieve the standing of decent and trustworthy players. IDeals data room is owned by the most secure and convenient platforms recently available on the market. This platform combines the complex security program, intuitive and easy interface, varied communication and evaluation instruments, qualified service team, and decent prices. Being a relatively new player among vendors, iDeals has been able to gain the extensive experience: its virtual data rooms have been utilized in complex and time-consuming deals and projects executed within the assortment of industries. Although the data room is already treated as a high quality assistant iDeals continues working on the development of the room: innovations and unique attributes are among the key priorities of the company. Hence, iDeals successfully accomplishes its role, helps deal-makers perform their jobs smoothly and securely, and competes with the largest and the earliest vendors.
Who uses virtual data rooms?
Virtual data rooms can come in handy for everyone who wants to maintain the information in a highly protected environment. But, there are certain businesses and spheres that are more interested in protected document sharing than others. In the case, investment banks, law firms, startups, etc. need to ensure the protection of the information, eliminate dangers of leakage and abuse.
Mergers & Acquisitions
Virtual Data Rooms appear to be the most useful in a course of M&A transactions. A good digital data room simplifies the entire process of interaction between a buyer and a seller and allows both sides to feel safe. Virtual Data Rooms prove to be especially helpful in regards to due diligence. They make this inevitable but time-consuming stage of M&A run quicker. Really, when all of the vital data is uploaded into a virtual data room the potential buyers get the access to it and may take their time analyzing documents. In addition, in contrast to some land-based deal space, a digital data room enables multiple people to operate with the documents concurrently. Hence, with the help of Virtual Data Rooms, a vendor has a chance to keep a smooth and productive dialogue with several bidders concurrently and to remain certain no files would leak, that the process wouldn’t be interrupted, and the deal would bring maximum gain.
Corporate Document Sharing
The larger a company is — the more complicated internal communication stream becomes. Virtual data rooms appear to develop into a solution that may simplify collaboration of employees and that may ensure data safety. After the requirement for the exchange of certain files appears several options may be applied. But, traditional emails were shown to be too vulnerable and too simple to be assaulted. In a contrast to a virtual data room, such free services as DropBox and Google Drive cannot guarantee the required level of files protection. Additionally, these vendors have no chance to provide adequate customization options to guarantee convenience for all of the participants of their communication and information exchange procedure. A digital data room may play the role of a highly secure venue where all of the corporate documents may be save and the manipulation of a virtual data room for record sharing guarantees information security. Hence, VDRs become a Selection of numerous international corporations and small private enterprises
Law firms face similar issues as other industries do: data security and uninterrupted stream of communication are among their key concerns. But they deal with an additional dimension of issues as the storage and exchange of information have to meet all of the legal criteria in order to not undermine the clients. Obviously, it’s possible to construct an extranet but the opening of a virtual data room appears to be more economical and more efficient. The key advantage of any digital data room is its customization: the room could be adjusted to the demands of a certain client or situation. Additionally, Virtual Data Rooms enable law firms to impose unique levels of data disclosure and also to maintain contacts with multiple parties within one room. With the support of a VDR, it’s easy to keep all the files connected to certain cases well-organized and reachable within seconds.
Other frequent uses
The spheres mentioned above give a brief insight to the list of industries interested in the manipulation of virtual data rooms. And this list seems to be non-exhaustive as almost any deal-maker can find something useful and valuable in the use of virtual data rooms. Hence, representatives of finance, IPOs, real estate, biotechnological licensing, clinical studies, investment banking and several other spheres tend to pay attention to VDRs.
How to Find the Best Virtual Data Room Provider
Nowadays, virtual data rooms do not belong to the lavish services seldom used by deal-makers. Originally, VDRs were utilized by a limited group of company but, throughout the last decades, the scenario has changed. The significance of information security will become more and more evident as new threats for information security emerge. However, the exploitation of virtual data rooms is aimed not only in secure data storage: these solutions provide users with diverse instruments that simplify the data exchange, external and internal communication.
The evident advantages immanent to virtual data rooms make businessmen research the VDR industry and hunt for the attractive vendors. As lots of data storing software providers provide their services, such a job turns out to be quite challenging. Anyway, our comprehensible algorithm should simplify the collection of a digital data room provider.
Check out what the market can offer you
Create a market study and search through the existing virtual data rooms. First of all, you need to evaluate the standing of the sellers. Professional reviews and feedback might help you understand if particular area satisfies your requirements and expectations. It’s always a good idea to cooperate with those suppliers who have an excellent reputation. For sure, it doesn’t give you 100% guarantee that your data would not be compromised but the chances to experience breach or leakage are miserable.
Look through the safety guarantees and tools offered.
The performance is a dimension defining the reliability of virtual data rooms. Particular industry standards exist and also a set of selected purposes is predicted to be present in the VDR you use. Security options are among the attribute to be appraised first. You should make sure the security of files is ensured on numerous levels due to diverse instruments like encryption, virus scanning, two-step consumer verification, watermarks, etc.. If you suspect the protection system to function as not the maximum quality then you should better reconsider your selection and try to find a different area.
Also, listen to other functions provided by a vendor. For instance, you might require a efficient Q&A section for communicating with your employees, partners, and customers. Or maybe you plan to exploit the space for multiple projects: permission groups option would come in handy. Regular activity tracking would help you monitor what the consumers do within the area. Advanced search tools and multiple filters would simplify the job process and let you deal with documents faster. Thus, you should check through the attributes inherent to specific VDRs, evaluate your own needs, and pick the room that satisfies your needs.
Prior to buying a subscription you need to better examine the service on your own. Usually, trial versions of VDRs are offered at no cost. This means you’ve got a chance to check out the functionality and convenience of the VDR. You’re not supposed to check the entire listing services you found because it would be enough to choose 3-5 most appealing platforms. After a couple of days of manipulation, you need to be prepared to name your favorite service. Also, listen to costs as two equally equipped and convenient places might change in their cost.
Ideal Way to Share Documents Online
The times when file sharing has been time-consuming and irritating process are long gone. In the era of the Internet and pervasive dissemination of gadgets, the exchange of these files is very easy. Commonly, no one is interested in getting a hard copy of a record: its digital version is equally (or even more) convenient to work with. Really, it does not take any physical space, it can be viewed on diverse devices, and a person can store a large volume of information considering a bargain or a project in their own pocket.
The change towards internet data sharing hasn’t occurred within a few days: it had been fairly long transition before the moment when deal-makers recognized it is cheaper and much more convenient to swap the data online. Microsoft Office documents and PDF files arrived to substitute heaps of paper. The need in new instruments for data sharing emerged due to the ever-growing desire of businessmen to innovate their functionality deal-makers become impatient and would like to work on many projects simultaneously. It means they have to stay in contact with a few partners that might be found in geographically remote areas, they must manage large volumes of information and share it with the right partners. Hence, multiple actions need to be implemented simultaneously and they must be executed fast as sometimes you have minutes or even seconds to share a certain file in order to be successful.
In these circumstances the requirement in highly effective services becomes evident. After all, it even appears absurd to use email to send Microsoft Office documents and PDF documents in a path of a large scale cross-national project. Fortunately, contemporary technologies are capable of fulfilling the demand for fast and convenient file sharing platform. Normally, prospective customers have to make a basic decision if they would like to utilize the free applications or if they are ready to pay for a subscription. Based on the response, there are two types of internet file sharing programs — freemium and compensated virtual data rooms.
When it comes to the platforms accessible for free the one can remember in head such names as DropBox, Microsoft OneDrive, Google Drive, etc.. They’re characterized by more or less similar performance and the final choice depends on an individual’s habit, loyalty to your new, visual preferences. To describe the manner freemium services work and the benefits it might offer we will listen to Google Drive.
Being a product of such a dependable vendor as Google, the software brings all of the users faithful to the search engine. In general, you do not need to pay any particular attempts to start using Google Drive: should you have a Gmail account you then have access to the internet storage automatically. In a few clicks, you might upload bulks of all Microsoft Office documents, photographs, presentations, and other potentially valuable files. When the information is already uploaded into your Google Drive you’ll open access to this document and invite other individuals to see and work with your data. Therefore, you get a chance to share information and interact with other users at a real-time manner. From this standpoint, Google Drive seems to be a fantastic solution that may facilitate your performance and simplify your life significantly. But being a free service it’s pretty limited in its functionality. It means that Google Drive proves to be helpful for individual users and small projects. If it comes to international company deals such freemium providers don’t meet needs of the deal participants.
In such cases, paid virtual data rooms are used for internet data sharing. These solutions allow visitors to incorporate Microsoft Office files and PDF files containing information in their functionality and to share them with selected stakeholders. Virtual data rooms proved to be more useful for deal-makers no matter their aims and industries of performance: M&A deals, clinical research, biotech licensing, finance, investment banking, property, and many other spheres now benefit from the manipulation of VDRs. Partners would not treat you badly in the event that you attempt to send them a heap of papers or a hyperlink to some freemium platform. Thus, if you would like to stay competitive in the market you want to start your own VDR.
Virtual data rooms have three quite obvious advantages Which Make them be the most sensible Selection for online file sharing:
The room can be installed in a few minutes and it would not take you long time to upload all of the necessary Microsoft Office files and other files. After this stage is done, you may share your files with anyone you need and it would take someone a couple of seconds to access the file even if tens of thousands of miles separate you. Moreover, VDRs permit you to work on many jobs simultaneously and you have an opportunity to save a significant quantity of time.
The room may be set up in a couple of minutes and it would not take you long time to upload all of the necessary Microsoft Office files and other documents. Following this stage is complete, you may discuss your files with anyone you need and it might take a person a few seconds to access the file even if thousands of miles separate you. Moreover, VDRs permit you to work on many jobs simultaneously and you have a chance to save a significant amount of time.
The area allows you to work with the files whenever and wherever you want. In fact, freemium services provide you with the same potential but there’s a noticeable difference between VDRs and free software in terms of functionality. Virtual data rooms give you more liberty of actions and facilitate your work using diverse instruments such as advanced search instruments, convenient word processors, etc..
The need in online file sharing instrument is incontrovertible. The question is which one to select — a free system or a paid virtual room. The solution depends upon the requirements, goals, and skills of a potential user. After all, every sort of applications has its own peculiarities, advantages, and viewers.