Best Virtual Data Room Provider for 2017
iDeals Virtual Data Room
IDeals operates in the virtual data room marketplace since 2008 and its information room has gained the standing of secure and convenient cloud-based platform. IDeals VDR is successfully utilized by the agents of diverse sectors like life science, biotech licensing, investment banking, real estate, finance, etc.. The room is especially handy when it comes to cumbersome and time-consuming jobs such as M&A deals. In a course of due diligence information room offered by the seller plays the use of a virtual place in which all the relevant documents are being stored, examined, and discussed. The most important job of the digital data room is to guarantee secure document sharing and iDeals accomplishes this duty. The room is protected on multiple levels: data encryption, watermarks, firewalls, and other features guarantee that documents uploaded to the iDeals virtual data area would not be compromised.
Together with secure document sharing customers get the highly functional operation environment efficient for execution of the wide range of actions. The area turns out to be perfect for document storage as each piece is systematized and also the advanced search programs simplify navigation within the system. IDeals is also famous for the decency of Q&A segment it provides: the segment makes it possible for a project’s participants to remain in contact with each other, to discuss documents and to get a detailed understanding of the tiniest nuances of each file. Hence, iDeals proves to be reliable and adequate data room supplier.
Intralinks belongs to the earliest players from the VDR market. Being based in 1996 it’s more than 20 decades of experience. The company works mostly with large enterprises (for instance, agents of Fortune 100) and focuses on big-scale deals. On the one hand, it permits the seller to acquire an extensive expertise in solving virtual data room comparison the many complicated riddles and in assisting through the most awkward deals. On the flip side, the costs for services are higher than ordinary. In general, there are three product variants that differ in terms of functions available and that suit specific types of deals. In a case, the fundamental model is not enough for successful deal execution it can be extended with the help of additional modules that focus on specific procedures. Hence, Intralinks makes sure that any client would become exactly what his project needs.
The VDR performs all of the functions expected from a classic data room. In addition to the secure data exchange and storage, it guarantees smooth cooperation inside and outside an enterprise: the tools offered simplify communication between the employees and give an opportunity to stay in contact with outside parties. The deal-making will be the main focus of Intralinks and it does its best to ensure support on every stage of the project implementation. Particularly useful it proves to be in a course of due diligence.
Similarly to Intralinks Merrill prefers to collaborate with large enterprises and financial institutions. The business claims to be the “global leader” and helps tons of customers globally: their VDRs are primarily employed for the execution of complex and awkward deals. Thus, there’s absolutely no surprise that prices for services are fairly significant.
The VDR complements the other services of Merrill which provides consulting, content management, and financial solutions. Along with DataSite, customers may enjoy such programs like Bridge, Link, and DPA. Their principal task is to ensure smooth and productive internal and external interaction and teamwork. Taking into consideration the selection of options provided Merrill may successfully have a burden of data management of any enterprise. It means that the customer can delegate these tasks to Merrill and concentrate on more acute nuances of their company’s performance. Anyway, the VDR offered by Merrill abides by all of the industry standards and offers clients with of the required choices — secure file sharing, handy storage, integration with software, intuitive navigation, multiple communication programs, etc.. Regardless, it seems to be more logical to exploit the VDR from Merrill at a situation when other goods of the company are being used too: the client would experience all the benefits if the providers are employed in a complex.
RR Donnelley Venue Data Room
RR Donnelley has been created in 19th century, specifically — in 1864. Ever since then it made its way out of a mapmaking firm to among the Fortune 500 companies with nearly 12 billion dollars each year in earnings. Nowadays it supplies services connected with printing, communication and digital options, etc.. The clients of RR Donnelley include the agents of healthcare, manufacturing, and other businesses: the scale of operation is quite wide.
Adhering to the strategy to expand and diversify their communication solutions RR Donnelley came up with the notion of opening their own virtual platform called “Venue.” Financial institutions constitute the key audience the area was intended for: Venue is supposed to assist them in complicated local and cross-national jobs. The interface of this VDR contains all the tools and features that are anticipated to make any M&A deal operate easily. But in regards to other functions, kinds of deals and industries Venue from RR Donnelley may seem to be somewhat limited in its functionality. Really, though the room is equipped with all the typical functions and guarantees that the required level of information protection, Venue might be not that convenient for any other projects despite M&A deals. Additionally, Venue is not the most important product provided by RR Donnelley: that the business treats it as a complimentary service. Therefore, the VDR might not get as much attention and as many revolutionary improvements as it is required under the terms imposed by the ever-growing VDR marketplace.
ShareFile Citrix Systems
ShareFile was created in 2005. From the beginning, it performed a part of a venue for safe files trade: FTP websites were not efficient and convenient enough to be utilized. In 2011, ShareFile became a portion of Citrix and began a brand new page in its development. Formerly Citrix worked on diverse services embodied in these programs as XenApp, NetScaler, and CloudBridge. And ShareFile became the one that was supposed to function as a virtual data room.
The evident advantage of ShareFile is its integration with varied software, especially with the apps available for free (as an example, DropBox, Google Drive, OneDrive, as well as many others). It is extremely convenient from the point of view of the clients that prefer to utilize completely free support. However, programs open to your free accessibility usually lack safety tools and the degree of data protection that they could guarantee is rather low. It means that ShareFile might neglect to meet expectations of serious and well-off corporations and enterprises, large financial and law players. But when being manipulated as an integral part of another Citrix applications ShareFile may be convenient. It plays its function of a VDR successfully but it would not be acceptable for complex deals and also for storage of confidential and sensitive information: ShareFile is recommended for small-scale projects and customers that need a cross-storage platform.
While other players in the VDR market are trying to meet as many customers as you can, Ansarada targets one particular kind of clients, especially — on those involved with the execution of M&A trades. Indeed, Ansarada states it was made exclusively for facilitation of bargains between buyers and sellers. From the perspective of its performance, this VDR is distinguished by numerous pluses and minuses. Apparently, when it comes to merger and acquisition projects Ansarada simplifies the life span of either side, of their consultants and analysts significantly as all the functions provide and also the port are designed in the manner that speeds up and facilitates the whole process. On the other hand, the room appears to be not the ideal choice for some other forms of deals: Ansarada cannot be treated as a good platform for long term data storage and exchange. Therefore, it performs better when being utilized for individual prices.
Ansarada is an Australian company that arose in 2005. Since that moment it tried to penetrate into the VDR marketplace and also to make an affirmative emphasis on the segment of M&A deals. As of today, their software was published in its 3rd edition. On the other hand, the performance of the platform stays standard and doesn’t go past the set of tools required for successful M&A.
Brainloop Secure Dataroom
Brainloop is the sellers with its headquarters in Germany. Its main focus is help during deal-making collaborations. It usually means that Brainloops provides varied applications that simplifies and eases communication between the project participants and guarantee safe information exchange. While Ansarada and RR Donnelley make emphasis on mergers and acquisitions and layout their VDRs in compliance with the latest requirements sellers and buyers, Brainloop has released the platform that has no particular specialization: Secure Dataroom would be convenient and beneficial for many deal-makers who search for the secure environment for information exchange. The assortment of its customers proves the universal nature of the VDR: social networking sites (e.g., Twitter, Foursquare), Allianz, the European Space Agency, etc..
The VDR looks like a Swiss Army Knife: being equipped with a vast range of tools Secure Dataroom turns into the tool that may come in useful disregarding the kind of the undertaking, the intention of a usage, and the world the customer works in. Moreover, the download of this program isn’t required. However, the complex functionality of the platform might cause delays in the implementation of trades: a certain time might be required to introduce inexperienced clients to the way Secure Dataroom functions.
Firmex combines characteristics of the massive VDR vendors and courageous small-scale startups. On the one hand, you like the functionality inherent to experienced providers. At precisely the exact same time, you see constant inventions and medium prices that describe fearless newbies who struggle for the own market. Being a relatively new player in the market, Firmex has managed to acquire the respect of several customers worldwide: the company claims to support over 75,000 customers. On the list of the customers, the one may notice such well-known titles as Deloitte, PWC, E&Y, Deutsche Bank, and many agents of investment banks, legal firms, energy, mining, pharmaceutical sectors, etc..
The VDR proves to be the most suitable for merger and acquisition transactions as it’s equipped with multiple tools that facilitate communication, speed up due diligence, and reevaluate all aspects of cooperation. Generally, the room offers the usual set of choices necessary for successful deal-making. For instance, it can boast of an outstanding customer service. But, Firmex owns lots of unique and innovative features to surprise any customer. “View As” alternative is of a particular interest: it helps the platform owner to check out how each of the visitors viewpoints the VDR and also to make sure that none of these documents was inadvertently viewed by a wrong user.
Box Virtual Dataroom
Though VDR services don’t constitute the main focus of Box the key reason it ought to be included on this list is Business on Box platform developed within the company. When users begin dealing with this item, they notice instantly the similarity inherent to Box and diverse file sharing services available free of charge (e.g., DropBox). While exploiting the similar user friendly interface inherent into freemium solutions Box proves to be more sophisticated in terms of data security. In addition, the platform provides the broader assortment of instruments and gives clients with numerous features that produce internal communication and collaboration with outside partners more smooth and convenient. The set of choices immanent to Box is quite standard: experienced users would not detect anything innovative or surprising among the functions. In the example, the platform provides such selections usual for VDRs as segregated consent classes and automatic expiry of access to specific files.
However, Box appears to be more suitable for individual consumers which aren’t involved in large scale and complex trades and jobs. The room lacks certain choices which ease M&A trades and make sure multi-sided data protection. Thus, corporate clients and organizations coping with highly confidential data storage and market may treat Box as maybe not the greatest selection.
SecureDocs Virtual Data Room
SecureDocs is the seller that provides clients with two main goods — a Virtual Data Room and Contract Management Software. Both products should generate the life span of businessmen simpler. SecureDocs helps the representatives of varied industries and assists achieve jobs concerning M&A, intellectual property licensing, fundraising, life sciences, investment banking, law, private equity, etc.. The company claims to support deals where more than 100 billion dollars were involved.
The VDR provided by SecureDocs is equally acceptable for short and long-term usage since it’s equipped with all of the features necessary for individual manipulation and for large-scale collaboration between several corporations. The room can be installed within 10-15 minutes and can be simple in manipulation. Hence, the clients don’t waste their time on getting used to navigating the file system. Taking into consideration the security of information customers don’t have any reasons to be worried as SecureDocs equips the VDRs with diverse safety protocols and protection tools that prove to be the industry standards. Along with high speed security, clients would benefit from such convenient and beneficial options as digital rights management, activity tracking, etc.. Any room can be customized and be adjusted to the requirements of a particular project. Even though the VDR services provided by SecureDocs end up being decent, the prices charged to your information room exploitation remain reasonable.
Virtual Data Room Review Editors Pick
The VDR market keeps rising and new virtual data room suppliers emerge frequently. But, there are vendors that have managed to achieve the reputation of decent and trustworthy players. IDeals data room belongs to the most protected and convenient platforms recently available in the market. This stage combines the complex safety system, intuitive and simple interface, varied communication and evaluation tools, qualified service group, and adequate rates. Being a relatively new player among vendors, iDeals has been able to gain the extensive experience: its virtual data rooms are used in time-consuming and complex deals and projects executed within the variety of industries. Even though the data room is already treated as a high quality assistant iDeals continues working on the development of the space: inventions and unique attributes are among the key priorities of the company. Hence, iDeals successfully accomplishes its function, helps deal-makers perform their projects smoothly and safely, and competes with the largest and the oldest vendors.
Who uses virtual data rooms?
Virtual data rooms can come in handy for everyone who would like to keep the data in a highly protected environment. But, there are certain industries and spheres that are more interested in secure document sharing than others. In the case, investment banks, law firms, startups, etc. have to ensure the protection of the information, eliminate risks of leakage and misuse.
Mergers & Acquisitions
Virtual Data Rooms seem to be the most useful in a course of M&A transactions. A good virtual data room simplifies the whole process of interaction between a buyer and a seller and allows both sides to feel secure. Virtual Data Rooms prove to be especially helpful in regards to due diligence. They make this inevitable but time consuming phase of M&A run faster. Indeed, when all of the necessary data is uploaded into a virtual data room the possible buyers receive the access to it and can take their time analyzing documents. Moreover, in a contrast to any land-based deal room, a digital data room enables multiple visitors to operate with the documents simultaneously. Hence, with the assistance of Virtual Data Rooms, a vendor has a chance to maintain a smooth and productive dialogue with several bidders concurrently and to stay sure that no files would flow, that the process wouldn’t be interrupted, and that the deal would bring maximum profit.
Corporate Document Sharing
The bigger a business is — the more complicated internal communication stream becomes. Virtual data rooms appear to become a solution that may simplify cooperation of employees and that may ensure data security. After the demand for the trade of particular files arises several options might be applied. However, traditional emails were shown to be too vulnerable and too easy to be attacked. In contrast to a virtual data room, these free services as DropBox and Google Drive can’t guarantee the required level of files protection. Additionally, these vendors don’t have any opportunity to provide adequate customization options to ensure convenience for all the participants of the communication and information exchange procedure. A digital data room may play the role of a highly protected venue where all the corporate files can be store and the exploitation of a digital data room for record sharing ensures data security. Hence, VDRs become a choice of numerous international corporations and small private ventures
Law firms face similar issues as other industries do: info security and uninterrupted stream of communication are among their key concerns. However, they deal with an additional dimension of issues as the storage and exchange of data have to meet all of the legal standards in order not to undermine the clients. Evidently, it is possible to construct an extranet but the opening of a digital data room seems to be more economical and more effective. The key benefit of any digital data room is its own customization: the space can be adjusted to the demands of a certain client or case. Moreover, Virtual Data Rooms allow law firms to impose unique levels of data disclosure and also to maintain contacts with multiple parties within a single room. With the support of a VDR, it’s simple to keep all the files connected to particular cases well-organized and accessible within seconds.
Other common uses
The spheres mentioned previously provide a brief insight into the list of businesses interested in the exploitation of virtual data rooms. And this list appears to be non-exhaustive as almost any deal-maker may find something helpful and valuable in the use of virtual data rooms. Hence, agents of fundraising, IPOs, property, biotechnological licensing, clinical research, investment banking and many different spheres tend to listen to VDRs.
How to Find the Best Virtual Data Room Provider
Nowadays, virtual data rooms don’t belong to the luxurious services seldom used by deal-makers. Originally, VDRs were used by a limited group of business but, throughout the last decades, the situation has now changed. The significance of data protection will become more and more evident as new threats for information security emerge. On the other hand, the manipulation of virtual data rooms is directed not exclusively at secure data storage: these services provide users with varied tools that simplify the information exchange, external and internal communication.
The obvious benefits immanent to virtual data rooms allow businessmen research the VDR business and search for the attractive vendors. As plenty of information storing software providers provide their services, such a task turns out to be quite challenging. Anyway, our comprehensible algorithm must simplify the selection of a digital data room provider.
Check out what the market can offer you
Create a market research and look through the existing virtual data rooms. First of all, you need to assess the standing of the vendors. Expert reviews and opinions could help you understand if particular area meets your demands and expectations. It’s always a good idea to cooperate with those suppliers who have an excellent reputation. For sure, it does not give you 100% guarantee your data wouldn’t be compromised somehow but the chances to experience leakage or breach are miserable.
Look through the safety guarantees and tools offered.
The performance is a measurement defining the reliability of virtual data rooms. Particular industry standards exist and a set of selected purposes is predicted to be present in the VDR you utilize. Security options are among the trait to be appraised first. You need to make sure the security of files is guaranteed on numerous levels due to varied instruments such as encryption, virus scanning, two-step user verification, watermarks, etc.. If you suspect the security system to be of not the highest quality then you should better reconsider your choice and try to find a different area.
Also, pay attention to additional functions offered by a seller. As an example, you may require an efficient Q&A section for communication with your employees, partners, and customers. Or you might plan to exploit the space for multiple projects: permission groups option would be convenient. Regular activity tracking would help you monitor what the users do within the area. Advanced search programs and numerous filters would simplify the work process and allow you to deal with files faster. Hence, you should look through the features inherent to certain VDRs, evaluate your own needs, and choose the room that meets your needs.
Prior to purchasing a subscription you should better test the service by yourself. Normally, trial versions of VDRs are available at no cost. It means you have a chance to check out the functionality and ease of the VDR. You are not supposed to check the whole list services you found because it would be sufficient to select 3-5 most appealing platforms. Following a few days of exploitation, you need to be prepared to name your favorite support. Also, pay attention to costs as two equally equipped and suitable venues might change in their price.
Ideal Way to Share Documents Online
The times when document sharing was time-consuming and annoying process are long gone. In the age of the Internet and pervasive dissemination of gadgets, the market of the files is very easy. Commonly, no one is interested in obtaining a hard copy of a document: its electronic version is equally (or even more) suitable to work with. Really, it does not take any physical area, it can be viewed on diverse apparatus, and a user can save a large volume of information contemplating a deal or a project in their own pocket.
The change towards online data sharing hasn’t happened in a few days: it was pretty long transition until the moment when deal-makers realized that it’s cheaper and much more convenient to exchange the data on the internet. Microsoft Office documents and PDF files arrived to substitute heaps of newspaper. The need in new tools for information sharing emerged due to the ever-growing need of businessmen to innovate their functionality : deal-makers become impatient and want to work on many jobs simultaneously. It usually means that they have to remain in touch with a few partners that might be found in geographically remote areas, they must manage large quantities of information and discuss it with the ideal partners. Hence, multiple activities need to be implemented simultaneously and they must be implemented fast as sometimes you have moments or even seconds to discuss a specific file in order to be successful.
In such circumstances the requirement in highly effective solutions becomes evident. After all, it even seems ridiculous to use email to send Microsoft Office documents and PDF files in a path of a large scale cross-national project. Luckily, modern technologies are capable of fulfilling the requirement for fast and convenient file sharing platform. Normally, potential customers have to create a simple decision if they want to use the free applications or if they are all set to pay for a subscription. Depending on the response, there are two types of online file sharing programs — freemium and compensated virtual data rooms.
When it comes to the platforms available free of charge the one may recall in the head such titles 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 dependence, loyalty to your brand, visual preferences. To describe the manner freemium services operate and the benefits it might offer we’ll pay attention to Google Drive.
Being a product of such a reliable vendor as Google, the software brings all the users faithful to the research engine. In general, you don’t have to cover any special attempts to start using Google Drive: should you have a Gmail account you then have access to the online storage automatically. In a few clicks, you may upload bulks of Microsoft Office files, 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 opportunity to share information and interact with other users at a real-time mode. From this standpoint, Google Drive seems to be a fantastic solution that may facilitate your performance and simplify your life significantly. However, being a free service it’s fairly limited in its functionality. This means that Google Drive proves to be helpful for individual customers and small-scale projects. When it comes to global corporate deals such freemium providers fail to satisfy needs of their bargain participants.
In such cases, paid virtual data rooms are used for online data sharing. These services allow businessmen to incorporate Microsoft Office files and PDF files containing information on their performance and to share them with selected stakeholders. Virtual data rooms proved to be more useful for deal-makers regardless their aims and sectors of performance: M&A deals, clinical research, biotech licensing, finance, investment banking, property, and numerous other spheres now benefit from the manipulation of VDRs. Partners wouldn’t treat you seriously in the event that you try to send them a heap of papers or a hyperlink to a freemium platform. Therefore, if you would like to stay competitive in the market you want to open your own VDR.
Virtual data rooms have three rather obvious advantages Which Make them be the most reasonable Selection for Internet file sharing:
The room could be set up in a couple of minutes and it wouldn’t take you time to upload all the necessary Microsoft Office files and other documents. After this stage is complete, you may discuss your documents with anyone you need and it might take someone a couple of seconds to access the document even if thousands of miles separate you. Moreover, VDRs allow you to work on many jobs simultaneously and you have a chance to save a significant amount of time.
The area may be installed in a few minutes and it wouldn’t take a very long time to incorporate all of the necessary Microsoft Office files and other documents. Following this stage is done, you may share your documents with anyone you need and it would take someone a couple of seconds to get the document even if thousands of miles separate you. Moreover, VDRs permit you to work on several projects simultaneously and you’ve got a chance to save a considerable amount of time.
The room permits you to work together with the files whenever and where you desire. In reality, freemium services supply you with the exact same potential but there’s a noticeable gap between VDRs and free software concerning functionality. Virtual data rooms give you more liberty of actions and ease your work with diverse tools such as advanced search instruments, convenient word processors, etc..
The need in online file sharing tool is incontrovertible. The question is which one to select — a free platform or a paid virtual room. The answer is dependent upon the requirements, goals, and abilities of a prospective user. After all, each type of software has its own peculiarities, advantages, and viewers.