When selecting a virtual data room provider, it’s crucial to review reviews on third-party websites like Trustpilot and Software Advice as well as study the opinions of employees on Glassdoor. This will give you a better understanding of the service’s ethics and efficiency. Additionally, you should examine the provider’s compliance with the security standards for data and the features that satisfy your specific industry needs.
Modern virtual dealrooms come with numerous functions that control access to documents and data. The most important thing is that they offer secure storage and access control for sensitive files. This means avoiding cyberattacks, breaches and theft. Some providers also include advanced tools for analytics and reporting to assist in critical business processes like due diligence and fundraising rounds.
Intralinks for instance has advanced features suitable for complex transactions like M&A or raising funds. They provide multi-project management, document tagging and annotations that are tamper-proof, as well as a custom NDA and permission-based roles. They also provide the ability to control access with granularity, including dynamic watermarking and two-factor authentication. In addition to these advanced features, Intralinks has a clear pricing structure and high-quality customer service.
Merrill Datasite is another top-tier VDR offering a simple to use interface and a wide range of file formats. The platform permits drag-and-drop mass uploads, cross-project reports and activity tracking. It also supports multiple languages, and has a strong customer support team.