How to Choose the Best Data Room Providers

Virtual data rooms are a billion dollar business however, not all providers are alike. Some vendors, such as iDeals and Firmex, Merrill Datasite and CapLinked are renowned for their broad feature sets including user feedback, transparency and pricing. When working with sensitive data it is essential to verify the vendor’s certifications for security and compliance standards.

iDeals for instance, provides a one-stop electronic information-room solution that integrates instant messaging. This eliminates the need to use third-party apps. The platform offers private and group chats as in addition to a Q&A tool to centralize a vast amount of due diligence-related questions. It also provides rapid responses to inquiries. iDeals also informs all users when a new document is created or a user is added to the room. The customer support team is available via email, chat online or by phone.

Intralinks is a second option worth taking into consideration. The user interface is easy to navigate and simple to use. Its features include automatic indexing digital watermarks, data room audit reports, bulk drag and drop, and various languages that are supported. It is compatible with iOS and Android. Customers can also avail an opportunity to try it for free.

Other notable providers include DealRoom Huddle eBlockchain and Onehub Data Room. When selecting a partner it is essential to look at features, customer support, and other factors. In the end, selecting the best partner for your data room will save your time and money while ensuring the success of your project.