Virtual data rooms are a valuable tool for corporations of all sizes. You can securely protect working documents and information about your clients or buyers with this tool. This article will teach how to choose a virtual data room and see some good options.
Benefits of Virtual Data Rooms
If your company works with large amounts of data, and you are convinced that they must be kept as secure as possible, you need to turn to the services of a virtual data room.
This exceptional service (with an online or desktop version) allows you to store files and share them without the risk of passing the latter to third parties. Although VDR technology resembles conventional cloud storage in many ways (such as Dropbox, iCloud, and Google Drive), it has distinctive features and advantages. Please read about it further, and also choose the best data room with the help of recommendations.
- Unprecedented security. VDRs are usually chosen by those companies for which not a single kilobyte of information must fall into the wrong hands. You may not know, but companies like IBM prohibit their employees from using Dropbox and iCloud to transfer corporate files. VDR has additional encryption keys and authorization settings.
- Flexible settings for the role of each user. Data room providers allow customers to very flexibly configure user access levels. For example, someone can only view documents; someone can edit them; some users are given temporary access; some files are entirely hidden from the public eye and are available only to some employees.
- Adaptation to your needs. Initially, virtual data rooms were designed to conduct mergers and acquisitions. Now the functionality is configured for teamwork, audit, analysis, and many other tasks.
Usually, a virtual data room has a high level of technical support; you get comprehensive instructions for setting up the software.
Best Virtual Data Rooms
At the moment, the following representatives have escaped into the industry leaders:
- DataSite by Merrill. This product entered the market in 1968! Many companies were still collecting tons of papers in dusty offices to make deals in those days. Having absorbed the exactness of those times, eliminating errors and data loss, the developers made this product. Although this is not a cheap program, it is designed for large enterprises and big deals.
- Intralinks. Another example of how the culture of old paper transactions of the past was transferred to the Internet space. Since 1996, Intralinks developers have been improving the possibilities of mergers and acquisitions, making them faster, more comfortable, and safer.
- Brainloop. A more straightforward and accessible tool was developed in 2000 by German programmers. It became apparent that even small businesses need data protection with VDRs. But, of course, the market giants were inaccessible to modest entrepreneurs. Brainloop has all the tools you need to get the job done.
- Sharefile. A universal solution with a user-friendly interface, flexible and straightforward settings, and tools for various industries.
Other services worthy of attention for example, iDeals, Box, DealRoom, V-Rooms, Ansarada.