A Data Room Service Review
There are a myriad of virtual data room providers and each one comes with a distinct functionality. It is important to evaluate each vendor and find one that best suits your requirements. For more details, read our article on the top online data room providers and their most crucial features.
While free online file sharing tools are perfect for sharing basic documents however, they don’t offer the security that is required by M&A due diligence or other business deal processes like partnership or fundraising. In these cases, it is recommended that a data room be created with advanced security features including granular permissions to access, watermarking and auditing.
Having an intuitive interface is also a must. Look for a vendor who allows you to customize the terms and conditions as well as the logo and layout of the dataroom. Additionally, think about the number of people who can be invited to join the project as well as the per-storage and per-page pricing model.
With a loyal client base that includes DuPont, Starbucks and L’Oreal, iDeals is a well-known VDR solution that comes with a user-friendly graphic user interface as well as a comprehensive set of functions that includes bulk upload, zoom integrations and a powerful search tool that will locate specific or partial matches in folders or documents. However there are some complaints from users about high prices and slow support. Merrill Datasite, on the contrary, is usually more expensive than its competitors, but offers advanced security features like encryption of data and 24-hour backup.
