When comparing virtual data room providers, it is important to take a look at their features including security and security options as well as price point. This article will help you evaluate your choices and find the right service for your business.
The term “virtual data room” is used to describe an online repository for storage and sharing of private documentation. Documentation is often of high value, and confidentiality is required to safeguard intellectual property. Virtual data rooms are employed in M&A due-diligence as well as other types of business transactions. However, this technology is useful for any company which requires sharing of confidential documents with external parties.
While free VDRs may seem appealing however they usually lack essential security features and are prone to data breaches and theft. If your business has significant worth, investing in a secure, well-respected VDR is highly recommended.
Certain VDR providers charge on a per project basis, which is a great option if you only need to share documents for one transaction. Other providers charge on a per-user basis which is more expensive but offers unlimited data rooms and storage.
Some vendors are industry specific for specific industries, such as iDeals www.royaldataroom.com/who-uses-virtual-data-rooms-service/ VDR, which is designed to facilitate M&A due diligence. Some, like Intralinks are targeted at large-scale transactions and feature advanced functionality such as real time vector watermarking and classification labels. They also provide the most comprehensive certifications such as FedRAMP HIPAA GDPR. They also provide the control of access to a specific level and identify unusual behavior like when an employee downloads the entire collection of documents from a company.