Top 5 Virtual Data Room Providers for 2021
If you are considering a fast and secure virtual data room provider for 2021, you need to check one on the list below.
We have selected the top five data room providers for your business that you need to consider depending on your business nature.
Also, on the list, check on the features like collaboration and security, and you can choose which will be suitable for you.
1. FirmRoom Data Room Provider
FirmRoom is the fastest growing and trusted data room provider around the world. It has modern design, is easy to use and implement and offers high collaboration.
It was also noticed on Capterra as Best Easy of Use and Best Value among data room providers in 2020.
It provides you with a secure data system with a high degree of confidentiality. It is very convenient for both small, medium, and large projects.
Its exclusive features include drag and drop options, smart search, bulk upload of files, and data analytics reports. The additional key features include data tracking, audit trails, customizable notifications, individual and bulk invitations, and a user activity tracker.
Using FirmRoom, you are guaranteed that your data is secure. The platform is affordable and offers a 14-day trial.
2. Merrill Data Room Provider
Merrill data room is suitable for medium and large businesses. It is convenient when sharing sensitive data, especially for financial institutions where confidentiality and security are prioritized.
It provides data analytics for document activity and allows you to customize the setting and manage document activities. It offers industry-leading security and can perform the most stringent security requirements.
Among its features, it provides a drag and drop facility to upload files, contextual search and has permission management features. Other advanced features include watermarking, access control, and audit log. With Merrill, you can upload bulk zip files of up to 50GB.
Another thing with Merrill is that mobile devices can access it; hence it is very convenient where high confidentiality and security are required.
The disadvantage of this data room is price. Usually it is quite high.
3. Sharefile Data Room Provider
Sharefile is the most popular data room provider worldwide, tested by bankers, lawyers, and top managers across the globe.
It manages the entire due diligence process with strictly confidential M&A. Just like FirmRoom, it is convenient for small, medium, and large projects. It has drag-and-drop functionality to upload files just like other data room providers in the list.
Sharefile provide the bulk upload facility with an unlimited size and storage system for all file formats. It supports over 25 file format. Your data is kept secure with the Sharefile data provider.
The Sharefile data room is supported by the following platforms; windows, mac, Linux, Android, iPhone/iPad, and windows phone.
It also offers a 14-day free trial.
4. BrainLoop Data Room Provider
Just like other data room providers, it supports files from small to large. It is best to offer solutions for board and committee communications. This data room is effective for everyone as it supports all mobile phone devices and works on any device.
The advanced features include watermarking, encryption, virus scanning, two-way authentication, and a permission system. It allows sharing of data among users offering a high-security level.
With BrainLoop data provider, a user gets a more native working experience integrated into MS Office. BrainLoop also can be used offline sometimes. Its range of products includes Board Suite, Deal Room, Collaboration Room, and My Room. Expert support is always available at all times with BrainLoop.
5. Intralinks Data Room
Intralinks is a fast, intelligent, secure virtual data room provider, the oldest in data room industry. It is mostly used by large companies with solid budgets.
With M&A due diligence and post-merger integration, Intralinks stands at the top of the most advanced virtual data room. Intralinks data room has some advanced features like automation, analyzing and managing files with AI.
Intralinks also has other features: drag-and-drop functionality, bulk file upload, and detailed reporting on data room activity. There is no free trial for Intralinks and the price is high.
Conclusion
To grow your business by increasing collaboration, boost efficiency, and possibly reduce redundant tasks, selecting a virtual data room provider should be your priority.
Consider your budget and define your needs before deciding on the VDR you will use for your business. Then compare the VDR given in the list and decide which is suitable for you.
Lastly, I should recommend you go for software that offers a free trial. As you run the free trial, pay attention to interface, efficiency, and ease of use.