For all Internet users, virtual data rooms have become the norm today. The main and most important characteristic of the service is data security, which is provided at different levels of the software product. Thus, in this article, we will analyze the best data room providers in the marketplace.
Why do we choose a Virtual Data Room?
The modern world and humanity as a whole purposefully move into the virtual world, which simplifies many processes. The financial world is no exception, as it needs to keep a large number of confidential documents in one place.
Before the advent of the Internet, files were stored in physical data rooms. These rooms required additional costs, such as rent, a large amount of paper, staff, and more. The users also had to spend time and money to get to the room, and book in advance to view a large pile of documents. When the Internet appeared, this ineffective approach was refuted and the process was moved to the virtual data room.
The virtual data room is a new milestone in the development of corporate cloud services and one of the fastest-growing business segments in the field of data storage and exchange.
Best Data Room Providers?
There are a lot of specialized products on the market with different capabilities and from different price categories. In general, for organizing a virtual data room, it is worth focusing on complex solutions that allow you to manage documents from the moment they are loaded into the storage until the moment they are deleted on the counterparty’s side.
So, the main competitors in the global market of virtual data rooms are:
iDeals Virtual Data Room is a sophisticated and reliable provider of virtual data rooms. The service offers over 100 features designed exclusively for secure document sharing and collaboration across the enterprise.
Citrix ShareFile includes easier use of features, the ability to quickly view and work with files of all types, receive feedback from colleagues and approve documents. ShareFile allows you to work more efficiently with a new virtual control panel and interface.
Merrill serves clients in the corporate, legal, financial, insurance and real estate sectors. It provides users worldwide with unrestricted access, real-time activity reporting, document-level site search, enhanced Q&A communication, and superior project management services. All this allows you to reduce the time and money spent on transactions.
CapLinked is an integrated web-based file sharing and document management solution. CapLinked collaboration features enable multiple users to work on the same document at the same time and collaboratively create, view, and update documents. CapLinked trade tracking system allows users to add new trades to the current pipeline.
Intralinks is a leading provider of solutions for virtual data rooms, a leading international provider of alternative legal services. It has some advanced features such as analysis and file management using AI.