Data Room Software Comparison

Data room software is an encrypted virtual space for collaboration and sharing of documents that are time-sensitive. Companies use it to conduct due diligence prior to the merger or acquisition, sending documents to law firms in the event of an ongoing reference legal dispute, and engaging potential customers in the sales process. In other terms it is a VDR is an essential tool for any company that relies on timely information.

When choosing a data room, make sure to compare the services offered by each vendor. Some providers offer a limited number of tools and charge extra for more advanced features. Some are more universal and provide a complete set of options at the same cost.

The most reliable online data rooms have a wide variety of file formats supported including Office PDF, images, and PDF. Some data rooms allow videos, audio and presentations. Choose a provider that has unlimited versions of uploaded files and rollback support. Additionally, a reliable VDR supports different operating systems (OS) and permits users to transfer files in bulk and organize them by directory listing or data room index.

The top virtual datarooms are equipped with a variety of compliance certificates, as well with extensive access control options. For example, iDeals Citrix, and Datasite offer multi-factor authentication, impersonation of user security and mobile device management, as well as access expiration. They also have granular permissions, IP-based restrictions and IP-address-based restrictions.

Customer satisfaction is another key aspect of a reputable virtual data room. You can find out whether the vendor is reliable by reading customer reviews on popular reviewer platforms like Capterra and G2. Find out the number of reviews, their average rating and what other customers’ reviews say about each provider.