| Categories |
 Ideals
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 Datasite
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 Firmex
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 Intralinks
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 SecureDocs
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 Ansarada
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 Digify
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 AdminControl
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 Donnelley
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 ShareFile
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 Box
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| Average rating (sourced from G2, Capterra) |
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| In-app/24/7 support |
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| Detailed audit trail |
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| Advanced Q&A |
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| Auto-notifications for new activity |
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| Granular access control |
8 levels
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5 levels
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6 levels
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4 levels
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4 levels
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4 levels
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6 levels
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5 levels
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5 levels
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7 levels
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3 levels
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| AI-powered redaction |
21 file format support with Search and Redact function and easy navigation between the documents
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Microsoft Word, PowerPoint, text, email and image files are converted to PDFs upon redaction.
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6 file format support
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| 30-second chat response time |
5-min case resolution in average
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| Customizable branding |
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| Preparation / trial period |
30 days + unlimited preparation time for Enterprise deals
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14 days
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14 days
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14 days + unlimited prep area for advisories
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7 days
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14 days
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30 days
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14 days
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| Support languages |
13 languages
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14 languages
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4 languages
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8 languages
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English only
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8 languages
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English only
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6 languages
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9 languages
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3 languages
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6 languages
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| 24/7/365 availability |
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| In-app live chat support 24/7 |
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| 30-minute email response time |
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| 25-second phone support time |
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| 30-second chat response time |
average 5-min case resolution
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| Training |
caring onboarding journey for each client
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| Dedicated project team / manager |
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| Help center with guides and FAQs |
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| Number of free flash drives |
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| Easy and quick setup |
average 15-min setup
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| Bulk actions |
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| Multilingual interface |
15 languages
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15 languages
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2 languages
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8 languages
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only English
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11 languages
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only English
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7 languages
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10 languages
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10 languages
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| Sync with desktop app |
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| Android and iOS apps |
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| Full-text search with OCR |
OCR is available for redaction, allowing users to easily search and redact necessary matches in files.
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| Advanced search with filters |
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| Document labels |
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| Multi-project management |
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| Data security | |||||||||||
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| View as other users |
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| AI-powered redaction |
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| Two-factor authentication |
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| User access expiration |
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| Granular access control |
8 levels
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5 levels
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6 levels
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4 levels
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4 levels
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4 levels
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6 levels
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5 levels
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5 levels
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7 leves
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3 levels
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| IP address-based access restriction |
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| Customizable dynamic watermarks |
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| Single sign-on (SSO) |
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| Data hosting locations |
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| Certifications |
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| Compliance |
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| Built-in Excel viewer with formulas |
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| Automatic index numbering |
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| Screenshot prevention with Fence View |
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| File merging |
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| Multi-format support |
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| Annotations for documents/folders |
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| Detailed audit trail |
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| Subscription to automatic reports |
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| Granular reports |
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| Reports exporting to Excel |
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| Customizable workflow and Q&A roles |
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| Import questions |
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| Bulk actions |
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| Auto-assignment of questions to experts |
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N/A
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All information used for the comparison was sourced exclusively from public domains.
Average ratings sourced from G2, Capterra, and FinancesOnline.
Data room providers comparison
30-day free full functionality trial
Ideals
Ideals virtual data room is an intuitive and easy-to-use platform for effortless collaboration. Ideals VDR’s mobile and desktop apps and multilingual interface ensure seamless document sharing and access management for your global teams.
Moreover, Ideals VDR is independently certified with the highest security standards for numerous controls that cover processes, applications, infrastructure, and people, giving you complete confidence in your data’s protection.
Factors in favor
Multi-project management to organize multiple data rooms under one subscription
Custom branding for reinforcing brand recognition and creating a professional image
Sync between the online platform and desktop version to automatically update document changes in both locations
Easy setup that allows users to launch projects quickly
Advanced workflow in Q&A with automatic question assignment to the appropriate expert for prompt and accurate response
A choice of 15 languages in the interface, 13 languages with customer support, and 6 languages in the Help Center giveย accessibility for users around the world
Factors in favor
Exceptional customer service available 24/7 via chat, phone or email for fast case resolution
Premier transaction that assists with document organization, NDAs, signatures, and Q&A coordination
Free data room freeze for up to 6 months in case the project is put on hold
Personal account manager for training and assistance
Factors in favor
Redaction tool with advanced search functionality to quickly hide sensitive information while saving time and reducing manual mistakes
Audit logs to track user activity and monitor actions taken within the data room
Dynamic watermarks to provide an additional layer of protection for secure file sharing
Granular 8-level permissions to control what users can do with documents and restrict actions, like viewing formulas, printing or downloading
Tailor-made reports subscription to automatically receive aggregated reports and info about Q&A activity or data storage usage
Start with a 30-day free full-access Ideals trial
Streamline and organize your entire deal process with the right data room
14-day free trial
Datasite
Merrill Datasite has been a player in the VDR market since 1968, making it one of the oldest providers in the industry. Among the platformโs most useful features are project, folder, or document-level permissions, AI redaction, search in 16 languages, and a customized dashboard.
Despite these advantages, however, some users have reported difficulty in navigating the Datasite virtual data room.
Factors in favor
Multilingual interface for easy and intuitive navigation
Mobile apps to access documents on the go
Factors to keep in mind
No desktop sync, resulting in extra manual work and potential errors
No formula viewing in watermarked Excel files, which limits users working with financial data
No annotations, which complicates document collaboration and feedback sharing
No centralized corporate account, which complicates the management of several simultaneous projects
Factors in favor
Support via phone, email, or live chat
Factors to keep in mind
No quick resolution guarantee
The support availability may be limited in some cases
Factors in favor
5 levels of access control
Two-factor authentication
Factors to keep in mind
No phone screenshot prevention with a screen blocking
No IP restrictions, making it more difficult to control who has access to data
14-day free trial
Firmex
Firmex VDR offers a satisfactory set of basic tools for supporting business transactions, but its clients claim they could benefit from additional advanced features like search with filters, file merging, fence view, and detailed audit trails.
While the Firmex data room is flexible for long-term clients, it doesnโt offer cost-effective pricing plans for smaller businesses that seek short-term contracts.
Factors in favor
Auto-notifications for new activity
Customizable reports for analytics tailored to specific needs
Two-page mode for viewing PDFs
Factors to keep in mind
No Android app, which reduces VDR accessibility for Android users
No desktop app sync, which limits offline access and requires manual file updating
No ability to view Excel documents with formulas, limiting the ability to analyze financial data
No search filters, which makes file search frustrating and time-consuming
Complicated setup process
Factors in favor
Free demo
Factors to keep in mind
No live chat for immediate assistance
No dedicated project team or manager, resulting in lack of guidance and support
Factors in favor
6 levels of granular access control
Built-in redaction for increased security
Factors to keep in mind
No fence view for preventing screenshots
No IP and time-based restrictions for stronger access control
No user access expiration, which poses security risks
No free trial
Intralinks
The Intralinks data room is positioned as a premium product, offering most of the essential features for data management. One of the provider’s strengths is its client support, available 24/7 in 8 languages, which customers truly appreciate.
On the downside, some customers mention that the Intralinks virtual data room could be more user-friendly.
Factors in favor
Multi-project management to organize several projects within a single platform
Desktop app for more data accessibility
Factors to keep in mind
No ability to view formulas in Excel files, which limits users working with financial data
No ability to schedule emailed reports
No ability to merge files into a single document
No partial search and document labels, which makes it hard to find relevant files
Factors in favor
8 support languages
Factors to keep in mind
The lack of expertise among some support specialists
Factors in favor
ISO 27701 certification for improved compliance
Factors to keep in mind
No IP restrictions, increasing risks of unauthorized access
No fence view for preventing screenshots
14-day free trial
SecureDocs
Customers praise SecureDocs virtual data room for unlimited users, documents, and storage. However, the online data room provider offers only five admin roles for all plans and charges extra for an additional five.
Thereโs also no option of adding just one administrator. This means the SecureDocs data room isnโt cost-effective for big and complex business transactions, especially if a company runs multiple projects simultaneously.
Factors in favor
E-signature integration
Ability to see what files were read or unread
Reports with analytics
Factors to keep in mind
Document access is difficult to set, which reduces control and productivity
Interface available only in English, limiting accessibility for non-English speakers
No data room hibernation, which leads to higher data room costs
Factors in favor
24/7/365 availability (except holidays)
Dedicated project manager
Factors to keep in mind
Only English-speaking support, leading to misunderstandings and reduced satisfaction
No chat support, which delays response time
Factors in favor
View as other users feature to enhance security
Watermarks to prevent unauthorized distribution of documents
Factors to keep in mind
No redaction, which exposes sensitive corporate data to unauthorized users
No option to download encrypted files from a VDR, which decreases security and flexibility
No fence view to prevent screenshots
14-day free trial
Ansarada
Ansarada VDR is a data management solution that offers various data storage plans, making it suitable for both small deals and large-scale projects.
While some users appreciate the platformโs advanced features for document security, others report having difficulties with navigation. Some also complain the Ansarada data room lacks customization options.
Factors in favor
Ability to view previous file versions
Easy subscription management and a quick billing process
Factors to keep in mind
Excel files are displayed as PDFs, limiting the ability to work with data effectively
No ability to apply labels to files and folders, which makes the search time-consuming
No document annotations, making collaboration inefficient
Size limitations on file uploads, with a maximum of 1.5 GB per file and 500 GB for bulk uploads
Supported file types are limited, making users convert files to a supported format
Factors in favor
Unlimited preparation period for Advisors
Factors to keep in mind
Users are divided by buy and sell side, which isnโt convenient for use cases other than M&A
No chat support, which delays response time
Factors in favor
AI redaction to redact sensitive information automatically
Ability to set up a session timeout
Factors to keep in mind
No fence view to prevent screenshots and unsolicited viewing
Very slow redaction, which increases security risks and decreases productivity
No corporate account to manage multiple data rooms
7-day free trial
Digify
Many customers find the Digify data room intuitive and easy to navigate. They also praise its analytics feature, which gives them peace of mind and control over sensitive information. However, some users have reported experiencing errors and glitches when uploading documents, causing them delays and inconveniences.
Another significant drawback of Digify is that basic plans lack essential features like single sign-on, Q&A, and file-level permissions, making users choose the most expensive pricing tariff.
Factors in favor
Fast setup
Intuitive interface for improved user experience
Factors to keep in mind
Only up to five admin users, which is inconvenient for complex projects
No search by file type or label, resulting in more time spent on manual browsing of documents
Only English interface, causing inconveniences for non-English speakers
Limited customization features
Factors in favor
Four pricing plans for different budget limits
A storage offer of 100 GB per user
Factors to keep in mind
Above-average wait times for phone support
Limited feature set for subscribers of the basic plans
Chat support response time is 30โ60 minutes, too long for urgent issues
No USB delivery, whether free of charge or for a fee
Factors in favor
Six levels of access control
Two-factor authentication
Factors to keep in mind
No SOC 1,2,3 compliance, which puts a data room at a higher risk of data breaches
No redaction, which exposes sensitive information to unauthorized parties
No SSO for basic plans to access multiple projects with a single set of credentials
14-day free trial
AdminControl
Some businesses and boards use AdminControl for critical content management and distribution, praising the providerโs useful features for secure messaging, task assigning, and advanced analytics.
However, many administrative users have raised concerns about the platformโs usability, complaining that many tools are not intuitive. Customers also mention that the platform lacks advanced functionality for search, document labeling, and branding.
Factors in favor
Ready-made due diligence data room generation
Task Manager feature to assign and monitor the document upload and review processes
Reporting with several usage metrics
Factors to keep in mind
No ability to download folders in bulk
Limited branding functionality, which creates inconsistencies for businesses that rely on their brand identity
No document preview of non-PDF files
No search by filters and labels, which makes finding specific documents time-consuming and inefficient
Factors in favor
Unlimited number of users and admins
Factors to keep in mind
No ability to order flash drives, resulting in data inaccessibility or even loss
No live chat support, resulting in delayed response time
Factors in favor
Secure messaging within the data room
Compliance with major European data security standards
Factors to keep in mind
No permissions on user level, resulting in reduced control over sensitive information
Small, not customizable watermarks that canโt be applied for non-PDF files
No secure download or integrated IRM, which increases the risk of data breaches or unauthorized access
No free trial
Donnelley
The Donnelley data room was founded as a subsidiary of Donnelley Financial Solutions, a leading global risk and compliance solutions company.
Due to several advanced security and document management features, Donnelley VDR has earned a reputation as an efficient file-sharing solution for complex corporate transactions. On the downside, the platform is known for being more expensive compared to other VDR providers in the market.
Factors in favor
Auto-indexing for easy document organization
Two-page view mode for PDF for easier review
Tree document structure for better navigation
Factors to keep in mind
No ability to view Office file formats, including Excel with formulas, which limits users working with non-PDF documents
No ability to customize workflows and assign tasks
No customization features, which limits users in tailoring the VDR to their specific needs
No ability to include the same user in different groups
Factors in favor
Multi-language support through phone or email
Factors to keep in mind
No product onboarding, making it difficult to understand how to use the platform and benefit from it
No live chat support, resulting in a slower issue resolution
Factors in favor
Multi-factor authentication
Virus scan for additional security layer
Recovery codes in case of password loss
Factors to keep in mind
No auto logout, which potentially allows unauthorized access
No permissions on user level, limiting the ability to grant access to individual users
No ability to share files with external parties using a secure link
No fence view for preventing screenshots
No NDA/ToU feature, which makes the VDR contents vulnerable to disclosure and legal issues
7-day free trial
ShareFile
One of the reasons why businesses choose the Citrix data room is transparent online pricing with generous storage for smaller projects and lower-cost options to satisfy basic needs.
However, some users report that the Citrix virtual data room isnโt as customizable and flexible as some of its competitors. There are also occasional malfunctions that take too long to be resolved by the support team.
Factors in favor
Mobile app for iOS and Android
Desktop app for Windows and Mac
API integrations with Google, eFile Cabinet, Readdle, etc.
Factors to keep in mind
No sync between the desktop app and the cloud storage, leading to errors or version control issues
No advanced roles and workflows for managing questions and answers
No advanced search, making it challenging to find specific files
Factors in favor
Library with free training resources
Transparent pricing
A 10% discount if paid annually
Factors to keep in mind
Limited support services with no 24/7 availability
No dedicated project manager, resulting in lack of guidance
No live chat option, leading to delayed response
Factors in favor
AES 256-bit encryption at rest and in transit
SOC 1/SOC 2/ISO 27001 compliance
HIPAA compliance upon request
Factors to keep in mind
No granular access permissions, making it challenging to limit access to specific documents or folders
No redaction, which may potentially lead to leaks, security incidents, and non-compliance
No ‘View As’, making security control more challenging
No free trial
Box
The Box data room offers unlimited users and storage, making it a good option for projects with large amounts of data or multiple contributors. The platform also offers mobile and desktop access, providing users with the flexibility to work from any location.
But what users donโt like is that some packages donโt include essential security features, such as HIPAA/FedRAMP compliance, watermarking, and two-factor authentication. These limitations compromise data security and make the Box virtual data room less appealing in comparison with its competitors.
Factors in favor
Available on desktop, mobile devices and in the cloud
Multi-format support
Multilingual user interface
Factors to keep in mind
No advanced reporting, which limits access to analytics on user activity
No built-in Excel viewer with formulas, which complicates the work with financial data
Slow loading time, leading to delays and frustration
No advanced customization functionality, which prevents businesses from maintaining a consistent brand identity
Factors in favor
Multilingual support
Five package options
Factors to keep in mind
Support is available only during local business hours
No live chat to get immediate assistance
No flash drive delivery, making customers look for other options for securely transporting and storing data
Factors in favor
Multi-factor authentication
Watermarking
AES 256-bit encryption
Factors to keep in mind
No remote purge and wipe, increasing the risk of sensitive information exposure
No fence view for screenshot prevention
No redaction, which may lead to data leaks
No HIPAA compliance on basic packages, making users upgrade to more expensive options
Data room comparison guide:
how to choose the best VDR
Virtual data rooms are a critical tool for many businesses. The market offers a variety of solutions, making it difficult to choose the right one. Itโs crucial to note that not all virtual data rooms are created equal. In fact, the features and capabilities of different providers vary significantly, making it essential to evaluate the available options carefully.
In this article, you will find a comparison table of the best virtual data room vendors for specific use cases and a series of recommendations and considerations on how to compare features and select your ideal solution.
Best data room providers for specific business needs
Due diligence, M&A, and fundraising are the best examples of transactions where virtual data room software is essential. In the following sections, weโll analyze which virtual data room providers offer the most suitable solutions for each use case.
Due diligence
Performing due diligence is a crucial step in any high-level business transaction. This process involves reviewing large volumes of confidential data, which can be a time-consuming task. A virtual data room is an indispensable tool that helps you complete this process efficiently.
By providing a secure environment for the process of file sharing, tracking, and distribution, a virtual data room can streamline the due diligence process and help ensure that all parties involved have access to the information they need.
To simplify and speed up the due diligence process, virtual deal rooms offer a range of features, including:
- Bulk upload
- OCR search
- Fence view
- Detailed audit trails
- Remote purge and wipe
- Time-based access expiration
- Built-in redaction
- Built-in Excel viewer with formulas
- Document labels
Best virtual data rooms for due diligence
The online data room providers below have extensive experience in the industry, serve clients all over the world, and facilitate thousands of transactions each year. Thatโs why theyโre globally considered to be the best data rooms for due diligence:
Ideals โ widely recognized as the leading VDR provider for due diligence, with exceptional customer care and robust security features
Intralinks โ one of the first providers to offer a secure virtual data room for due diligence, according to all expertise
Firmex โ a comprehensive solution with reporting features and customizable permissions to support due diligence
Ansarada โ specialized in M&A due diligence, dividing users into the buy- and sell-side categories, great user oriental features
Donnelley โ over 40 years of experience in document management and due diligence support, have such a good feedback
M&A
Since 2000, there have been about 800,000 transactions announced worldwide with a value of over $57 trillion. The intensification of the M&A market increases the demand for reliable and efficient technology to facilitate these transactions. This is where the best data room software comes in โ providing businesses with a secure and efficient way to close deals from anywhere in the world.
One of the most valuable aspects of the data room market is the wide range of providers that offer granular reporting capabilities. This allows M&A participants to gain deeper insights into the deal by tracking which files are the most viewed and which users are the most active.
Best virtual data rooms for M&A
The following virtual data room solutions are considered the best for M&A transactions, guaranteeing the necessary secure file storage capabilities and the most satisfactory VDR experience:
Ideals โ known for customizable workflows and advanced analytics tools that help M&A participants make data-driven decisions
Ansarada โ AI-powered tools that make the M&A process more efficient and secure, allowing teams to close deals faster
Datasite โ recognized for machine-learning capabilities helpful during M&A transactions
Firmex โ offers a set of tools for efficient workflow management, making it a good choice for M&A
SecureDocs โ a user-friendly solution with sophisticated document security measures necessary for M&A
Fundraising
A virtual data room solution is also a valuable tool for companies looking to raise funds more efficiently, securely, and transparently. Firstly, they provide a centralized location for investors to access confidential documents such as financial statements, pitch decks, and business plans.
Secondly, they offer collaboration tools like comments, annotations, and in-built Q&A that improve communication and reduce the need for in-person meetings. This saves time and resources and facilitates decision-making, ultimately resulting in more successful fundraising.
Best virtual data rooms for fundraising
The five providers below are trusted by companies worldwide and considered the best data room for startups and businesses seeking financing:
Ideals โ a highly customizable platform with advanced reporting and analytics capabilities, extremely valuable during the fundraising process
Citrix โ known for content collaboration solutions that help startups and investors collaborate effectively
Box โ an easy-to-use platform with features like version control and audit trails, helpful during fundraising
AdminControl โ an intuitive platform with secure messaging to communicate with investors
Digifyโ offers analytics and statistics that help fundraising teams track and analyze investor activity
