In the last few years, the number of people using virtual data room (VDR) services has gone through the roof. Businesses can use VDRs to handle even the biggest mergers and acquisitions (M&A) without ever having to meet in person. They give people a highly secure, controlled online space to share and store large files and only let certain people into that space. When selecting a VDR provider, you should look at the provider’s reputation, how the data is handled, how much customization is available, and how good and easy-to-reach customer service is. Here’s a list of the best virtual data room providers.
Top Virtual Data Room Providers
Check out the list of the best Virtual Data Room Providers.
1. iDeals
iDeals entered the VDR market in 2008 and has managed it to the top of the list with its outstanding security features and great customer service. People of all levels of experience with VDRs can use iDeal’s services. Even if you’re new to the space, it’s easy to get around thanks to the interface’s intuitive design and user-friendliness. With offices in over 20 countries and a website available in 13 languages, it’s easy to see that customer satisfaction is the company’s top priority, making it one of the finest virtual data room providers. The knowledgeable customer service reps are always available to help you through every step of the process, making M&A and other transactions easy.
2. Ansarada
Ansarada has been an Australian VDR provider in the market since 2005. Its name is made up of the first two letters of the names of its four founders. Enterprising software developers and accountants made the Ansarada platform. It is as easy to use as possible and offers great security for due diligence and mergers and acquisitions. The AI-powered SaaS platform has everything you might need to make a deal that goes well and doesn’t cause trouble.
3. SecureDocs
SecureDocs, a US-based company on the market since 2012, is also an easy-to-use platform. It has great customer service and security features that are standard in the industry. With a free one-week trial and a free demo, the platform is an excellent way for new users to try out their skills. In addition, SecureDocs is easy to use on all platforms, making it a simple, safe, and versatile option even for individual users.
4. Drooms
With its excellent work over the last 20 decades, this VDR provider based in Germany has become one of the best in Europe. Drooms lets its users do a lot of different things with its features. You can choose which features you want and only pay for the ones you need. This company also has excellent customer service. For all your questions and needs, you can use live chat. This company was the first to add an extra layer of security to its virtual data rooms by using blockchain technology in 2018. They are proud of their ability to think outside the box.
5. Intralinks
Intralinks is a true giant in the business world, with a portfolio that includes some of the biggest brands in the world and spans over 20 decades. They are one of the most well-known companies in the field, and it’s not hard to see why. They have handled transactions worth more than USD 34 trillion. Intralinks usually works with transnational and multinational companies because it has great customer service and offices in many countries. However, small businesses and start-ups are better off using the services of other companies.
6. Citrix
Citrix Systems has been out on the market for over 30 years. The cloud software company has users worldwide, and in addition to virtual data rooms, it offers many other services. Since 2011, when it bought ShareFile, Citrix has been offering VDR services. Citrix Systems is a great choice for people who want one-stop solutions for online data management because it works with many well-known companies. In addition, Citrix is a top choice for many directors worldwide because it caters to both medium- and large-sized businesses and offers more than just VDRs.
7. Merrill
The Merrill Corporation, which does business as DataSite, provides data room services to a wide range of clients of all sizes all over the world. The security of transactions in DataSite’s VDR is the company’s top priority. They use multiple layers of security, such as encryption and strict control over who can print what. In addition, Merrill DataSite has a forum where people can ask and answer questions. This makes it easy to get answers to your questions immediately without waiting for an email response. Merrill provides more than just great virtual data rooms. It also offers various useful services, such as data management, translation, and almost anything a large company could need.
8. Digify
Digify has been around for over ten years, but it has used that time well to become one of the most respected virtual data room providers. It, on the other hand, is for small and medium-sized businesses. They have excellent customer service and a platform that even someone new to dealmakers can use. Digify also offers top-notch security features, file management, and customization options for VDR, which give your VDRs a personal touch and help people recognize your brand.
9. DealRoom
Even though it has been on the market for less time than most of its competitors, this Chicago-based company has established itself as one of the effective software for every step of the M&A process since 2013. DealRoom is on this list because it can be changed to fit many different processes. Functionality and access to documents can be changed easily, and both parties to an M&A can find it easy to use. In addition, two-step verification and data encryption give customers an extra level of security.
10. Firmex
Firmex offers its users cloud services, such as VDR, that can be changed in many ways. The company says that each year it adds more than 15,000 new VDRs. Firmex offers its customers different services based on their size and needs, all of which have an easy-to-use interface and high-quality security measures. Firmex is a good VDR service for businesses of all sizes and in almost all industries because it has a lot of ways to customize it.
The Bottom Line:
Choosing a VDR provider you can trust with your most sensitive data, and documents can be difficult. Before comparing virtual data room providers, you need to know what you want. Once you know what’s most important to you, choosing the virtual data room provider that best meets your needs is easier.