business management

Best virtual data room companies for any industry

Any branch of industry and technology needs reliable data protection about their projects and customers. This can be achieved using proven software. These are virtual data rooms. They allow you to comfortably organize teamwork without fear that some information will be lost. In the article, you will find some tips on choosing a virtual data room.

How to choose a virtual data room for your business?

Offers from virtual data room companies vary in cost and functionality. An enterprise that chooses its first VDR often has its eyes wide open – what to look for and what details need to be considered. The following tips will help you understand the issue of choosing a VDR.

Technology security

It’s no secret that VDR is famous for its high level of security. Thanks to data encryption and several user authentication steps, data can be saved from hacking or theft. This is one of the first criteria that separates the virtual data room from the usual cloud storage. Check the certificates of the selected service, and read about security technologies.

Functionality and simplicity

The second important criterion is the ease of use. Every employee in your company should master all the necessary functionality of the data room within a few weeks. This is not possible if the tools are too complex. Remember: VDR is supposed to make your life easier, not harder.

Support

When you become a customer of the company, you will get round-the-clock access to the support service. This is very important, especially at first or during large transactions when incorrect data room moments can cause severe work disruptions.

Setting up a data room

Each provider must ensure that you can set up a virtual room yourself. Therefore, the manual should contain everything down to the smallest detail: how to choose an administrator, set up access, upload large amounts of data, assign roles, and so on.

Demo version

Most providers provide a demo version for 3-30 days. Take this opportunity: it will help you get an impression of the product and understand how VDR suits your needs.

The best data rooms for different industries

Below is a virtual data room comparison, where some of the most popular data rooms are mentioned:

  1. FirmRoom. The company is rapidly developing and improving its product. Salesforce, Slack, and Office 365 are now integrated into the data room to make things easier. Subscriptions start at $500 per month.
  2. Intralinks. The old and reliable data room offers three main feature sets. If necessary, you can purchase additional modules. Pretty universal and dependable, but not a cheap tool.
  3. iDeals. Quite a popular data room has been serving various industries since 2008. In particular, there is even functionality for medical institutions.
  4. Sharefile. This is a handy tool for those who want to manage a medium or large business with a virtual data room tool. The minimum plan starts at $50 per month of use.

You can also look towards CapLinked, ForData, Box, or other providers.