Comparing Virtual Data Room Providers

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Comparing Virtual Data Room Providers

When comparing virtual room providers, you must look at their functionality as well as security features and price point. This article will help you analyze your options and determine the best provider for your business.

The term “virtual data room” is used to describe an online repository used for the storage and sharing of private documents. The documentation is typically valuable and requires confidentiality to safeguard intellectual property. Virtual data rooms are typically utilized in M&A due diligence and other types of business transactions. However, the technology is suitable for any business which requires sharing of sensitive documents with other parties.

Free VDRs are tempting, but they do not have the security features you need. They could also be susceptible to data theft and data breaches. If your business is of significant worth investing in a secure and well-respected VDR is highly recommended.

Some VDR providers charge on a per project basis, which is ideal when you need to share documents for a one-time transaction. Some providers charge per user which is more expensive however, they offer unlimited storage of data and space.

Some vendors are specific to industries, for instance, iDeals VDR which was built to help with M&A Due Diligence. Some, like Intralinks are designed for large-scale transactions and offer advanced features including real-time vector watermarking and classification labels. Moreover, they provide the most comprehensive compliance certifications, including FedRAMP, HIPAA and GDPR. They also allow for granular access control and detect unusual behavior, such as employees downloading a company’s entire library of documents.

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