Have you been doing any research and looked up what a virtual data room might be on Google? Is that software, then? Do you really need to buy that? Why is it needed? Be at ease. We attempt to address your inquiries with this succinct overview. Let’s get started straight now.
A virtual data room, often known as a VDR, is an online location where people may store and share documents. Although that may be the case, the phrase “data room” is much older than the buzz around cloud computing. One might infer from the term that it has anything fresh to do with cloud file-sharing.
List of the top vendors of VDRs
iDeals
A sophisticated and reputable supplier of virtual data rooms is iDeals Solutions. Investment bankers, attorneys, and top business executives from all around the world have put their expertise and extraordinary performance to the test.
As the most flexible and result-driven business on the market, iDeals VDR always pays attention to its clients’ needs and provides them with the safest, most pleasant, and fastest means of achieving those needs in any form of transaction.
Peculiarity:
- drag and drop capabilities are used to upload the file;
- it offers a bulk upload feature with no restrictions on file size, quantity, or format;
- additionally, it offers full-text search and automated index numbering functions.
Intralinks
Virtual Data Room is one of the M&A solutions offered by Intralinks. It includes several sophisticated functions, like AI-powered file analysis and management. For simplicity of use, it has an intuitive user interface. It contains attributes like auto-indexing and watermarking.
Peculiarity:
- drag-and-drop capabilities;
- uploading files and folders in bulk: additionally, you may rename before uploading using this feature;
- reporting in-depth on data room activities.
Merrill Datasite
Investment banking, corporate development, private equity, and law firms may all use Merrill Datasite as an online data room solution. It offers document activity metrics in a visual format. You may control these document operations and change the parameters.
It offers security that is unmatched in the market and can meet the strictest security demands.
Peculiarity:
- it offers tools for managing permissions;
- roles may be used to specify document access levels;
- a contextual search is offered;
- it has a drag-and-drop file upload feature.
BrainLoop
For the purpose of safeguarding the organization’s sensitive data, BrainLoop offers a SaaS solution. In the same service, it provides a solution for Secure Collaboration, M&A and Due Diligence, and Board and committee communications.
Peculiarity:
- both an online and offline version of it are offered as options for use;
- it works with every mobile device;
- it is integrated with ms office to provide you a natural working experience.
Watchdox
The workplace solution offered by Blackberry is called Watchdox. This tool for sharing and synchronizing files is safe and designed for businesses. It offers defense against ransomware. You may work together both within and outside of your firewall using Watchdog.
Peculiarity:
- it offers files 256-bit encryption that is aes-certified;
- there is no requirement for data migration because it supports all of your current data repositories;
- this will offer a comprehensive activity log.