The virtual data room solution has been around since the early 2000s, but only in the last few years has it gained popularity and market demand. The move to digital spaces has prompted many changes in how business is routinely conducted. Security is now even more important, and business requirements have increased significantly, asking for more speed and efficiency. VDRs are indispensable tools for storing and exchanging companies’ sensitive data and support businesses at every stage of the transaction process. This article will explain why VDRs are important to companies and which vendors are the best for completing important projects.
Why is using a virtual data room so important in today’s business?
A virtual data room is one of the most secure platforms for doing business today. It allows you to store and share sensitive documents online without the risk of a data breach. The solutions are used in various industries, as they can benefit any company. So, the main reasons to use VDRs are:
- Secure space
With the implementation of a virtual data room, your security concerns will be minimal. Spaces meet international security standards and offer strong protection against external threats, including encryption and two-factor authentication. In addition, space administrators have flexible document access rights, remote document revocation, and watermarking. VDR provides you with automatic reports on all activity within the space. In this way, the layered protection ensures that any breaches are completely impenetrable.
- Consolidation of the technology stack
With VDR, you also eliminate the need for additional tools and applications for communication and file sharing. Everything you, your employees, and your partners need is inside vdr software. The Data Room is an integrated solution for efficiently performing any task.
- Simplicity and speed
The VDR platform simplifies many processes, helping you close deals faster. In addition, it automates many tasks and offers a centralized space to address all critical issues.
Best VDR providers for business-critical transactions
The demand for VDR tools has spurred their further development, so the market is now overflowing with different offerings. However, the best VDR vendors for business projects are considered to be:
- iDeals
iDeals has been offering its secure space services for more than ten years and is one of the most recognized VDR brands today. The provider has thousands of customers worldwide and supports more than 90 languages. Users from a wide variety of industries attest to its impeccable security, as well as its customer-centricity. iDeals is great for mergers and acquisitions and has a robust security infrastructure and a clear interface.
- Intralinks
Intralinks is a versatile business software based on an artificial intelligence designed for large deals. Intralinks is still an easy-to-use space using sophisticated security mechanisms and is supported on mobile devices. The provider offers you more practical audit logs, effective communication, and responsive support.
- DataSite
Datasite is another VDR tool supporting the M&A process to the highest standards. It offers many advanced tools for both the seller and the buyer. Datasite simplifies many processes and automates document management and due diligence processes. In addition, the provider is also suitable for IPOs, restructuring, and more.
- CapLinked
The CapLinked solution is often used by business owners dealing with complex projects and transactions. The vendor offers a product line designed for different sizes of businesses and their industries. CapLinked has gained customers in more than a hundred countries thanks to its careful approach to its customers’ requirements.
- Onehub
Onehub is a quality provider for secure file sharing and collaboration. It offers simple workspace organization, customizable branding, a high level of privacy, and easy collaboration.