Virtual Data Room is the online data repositories that are highly secured and safe. It is used for the distribution and storage of crucial data. The Virtual Data Room is used by businesses when they need robust confidentiality for their business data. But, the selection of data room provider must be done carefully. It must be selected based on the type of business process and deal. Businesses may ask Why Use a Data Room Provider when they have an in-house server to store data. Well, the simple answer is to enjoy the ease of use, better collaboration features and high-security functions.
But, when choosing a data room provider, ensure that it offers an option for customization of design to suit corporate style, apps for Android and iOS devices, reporting about user activity, bulk uploading of functions, user permission for projects, encryption level and pricing.
Top Virtual Data Room Providers to Consider in 2020
- EthosData –
It is the UK based Virtual Data Room provider, offering document sharing services and dedicated data room to customers. It is considered the leading VDR provider globally that specializes in offering fund management and legal solutions, virtual boardrooms, and more. The company comes with three pricing plans to suit your budget and business needs.
- Ansarada –
Established in the year 2005, Ansarada is the Australian based software company dedicated to offering VDR services and solutions. It has AI-powered VDR tools that are used during material events. The VDR provider focuses on enhancing business parameters and business transactions and exchanges. It is the highly preferred VDR solution for mergers and acquisition deals as it promises efficiency and speed.
- iDeals –
iDeals is mainly a file management company based in the USA, and it offers data rooms for clients. Commenced in 2008, iDeals offer auditing, data security tools, secure document management services to investment, a search function for documents, life sciences and legal solutions. It has a robust VDR solution that is easy to use and comprises various functions to make it a popular choice.
- Firmex –
It is purely a trustworthy VDR provider based out in Toronto, Canada. The key area of focus includes due diligence and closing procedures of Mergers and Acquisition deals. The VDR provider offers services to different investment banks, law firms, accountancies, private equity firms, and life sciences for Virtual Data Room solutions. It has a global presence, serving in more than 140 nations.
- Box –
Being the cloud tech company, Box focuses on enterprise content management platform that offers clients file-sharing services and solutions. The VDR solutions of BOX include a plethora of amazing features, including multi-sided data protection and more. Headquartered in the USA, Box offers VDR solutions to clients from across the world, and some of the clients include Fortune 500 Companies, like Microsoft, IBM and Apple.
These are the top and leading Virtual Data Room providers that you may rely on when it comes to VDR solutions and services. Since you are aware now Why Use a Data Room, it becomes important to choose the right service providers out there.