Physical data rooms have lost their significance up to no small extent mainly due to their inefficiency and delayed execution of tasks. In the digital era, virtual data rooms are replacing the physical one for storing secret information, classified and specific documents in a central repository. Mostly, these are the giant corporates, businesses, and individual parties that use such facilities to exchange information and conduct the private transactions.
Even such central repositories that exist in a virtual space are more efficient; users still need to look for the best virtual data room out there to trust for the storage of relevant documents. A concerning entity must look for the features like experience, security, and ability to keep secrecy for evaluating the efficiency of a data room.
Which is the Best Virtual Data Room?
Knowing about the best virtual data room is essential for the companies as it is essential for developers to know about best virtual machines out there. Here is the list of the best data rooms that a business entity should look for undergoing crucial transactions.
1. Intralinks Dealspace
Intralinks Dealspace is a popular digital repository, used for exchanging and discussing essential business matters. Many organizations can trust this virtual data room for conducting their transactions. At least, this is what available reviews indicate. Intralinks has been operating since 1996. This VDR (Virtual Data Room) has multiple well-known clients that include the likes of Atlantic Capital Bank, Hanergy America, Edgemont Pharmaceuticals and Essex Industries. This DR not only offers the 14 days of the costless trial but also provides its services in almost eight languages.
Apart from this, it is ISO 27001, SSAE 16 and SOC 2 certified.
Ansarada has successfully carved out a niche out of the market for VDRs. It calls itself the best virtual data room that specializes in offering the services for M&A. Ansarada is also famous for its flexible features and ease of use. Parties involved sharing data through this virtual data room can use it on Mobile and PC as well. It also has a notification system that keeps the parties updated by changes if any. IDT Australia Limited, KPMG, Corero Network Security and KPMG are the notable clients of this virtual room.
Ansarada is ISO 27001 certified, but it is recommended for businesses and individuals to look for the familiar words of mouth before signing a deal or so.
3. Merrill Datasite
Merrill Datasite is a user-friendly VDR by Merrill Corporation. It has features like access control, assigning permission, and watermarking and audit logs. Further, it also offers data back-ups and scanning for viruses. The DR is secure to use, and ISO 27001 and SSAE 16 certified. The VDR also allows a multi-language use along with 24/7 support. It has users from the diverse fields, but they are mainly from finance and investment sector. The application is accessible on iPad as well as also on mobile interface along with the PC. It has also garnered many positive reviews from its clients.
4. SmartRoom VDR
SmartRoom VDR is another best virtual data room which is famous for offering multiple industry solutions. Its clients mainly include venture capitals, investment companies, and corporates that provide financial products. It helps in executing the tasks like due diligence, M&A, secure corporation, raising funds and post-merger acquisition. Being reliable, user-friendly and offering 24/7 support are the features that make it lucrative for its clients. Apart from financial matters, SmartRoom also aids in the analysis of legal issues and financial issues. It inevitably offers its online services. But its plus point is due to its presence on three continents. Hence, it is possible for clients to personally meet the team, in case they face some broad issues.
This Germany based Virtual Data Room helps in execution of multi-deals. It doesn’t specialize in some particular offering, but its rooms are secure enough to act as the digital repository. At least, this is what the available reviews by clients indicate. Brainloop is relatively easy to use. But, its systems can be complex for conducting financial transactions.
An exciting thing about Brainloop is the diversity of its customers. It can call itself one of the best virtual data room available as Twitter and Foursquare are also its clients reportedly.