Virtual data rooms are "for-all" business solutions. Professionals, small businesses, entrepreneurs, startups, corporations, enterprises, nonprofits, government agencies, retailers, etc., can use dataroom software for process automation.
Whether it is safe and centralized data storage or sharing, uninterrupted communication, project management, online collaboration, or deal-making, a virtual data room has everything a business needs.
However, the fact that the VDR market consists of hundreds of data room vendors makes it difficult for professionals or companies to choose the right online data room software for them.
The question stands, which data room vendor will be suitable for you or your company? That depends on your requirements, business needs, and your budget. However, there are virtual data rooms that are beneficial for almost all types of businesses and are budget-friendly.
Here is a list of some of the best data room services for companies and professionals.
Top electronic data room software for professionals and companies
Following virtual data rooms are selected on the basis of customer reviews, features, and market reputation of these brands.
1. iDeals
Headquartered in the United Kingdom with multiple offices in different parts of Europe, iDeals can top the charts any day. Whether it is about data security, deal management, data sharing, contract signing, or due diligence, iDeals virtual data rooms can be trusted with eyes closed.
The company takes pride in serving thousands of professionals from financial services, lawyers, and high-level officials from different industries. Apart from that, iDeals virtual data rooms are equally beneficial for small, medium, and large size companies. Businesses trust iDeals VDRs for transactions like IPOs, mergers and acquisitions, commercial real estate transactions, and fundraising.
| If you are interested, you can learn more about fundraising with data room here. |
iDeals unique customer support system is simply unparalleled in the VDR industry. Not many companies can claim that they truly incorporate their customers' feedback in their operations, but iDeals can. When it comes to ease of use, iDeals can easily boss this section. You can literally set up an iDeals VDR in 15-20 minutes.
Notable features and benefits of iDeals data rooms:
- Very easy setup
- Electronic signatures
- ISO 27001 and SOC2 certified data room vendor
- Secure file viewer
- Bankruptcy case management
- Available in 14 different global languages
- Automatic notifications via emails
- 24/7 customer support services from industry experts
- Legal forms library
- File drag-n-drop
- Access controls
- Audit logs
- Unparalleled security
iDeals also offer free trials and three different pricing plans.
2. Vitrium Security
A very easy-to-use virtual data room that has heaped praise on platforms like SoftwareAdvice and G2, Vitrium data rooms have earned a 4.7-star rating on Capterra.
Vitrium data rooms are equally handy for professionals and businesses for storing and sharing intellectual properties, patent rights, secret formulae, and other important business documents. Apart from that, these data rooms are widely used by companies for different purposes, such as deal management and data management.
Vitrium data rooms are a budget-friendly option for small-size companies as the basic plan starts at $500 a month. Moreover, Vitrium has a good customer support service and can be set up on Mac and Windows.
Here are some notable features of Vitrium data rooms:
- Data security
- Drag-n-drop
- Image protection
- High-end security
- PDF protection
- Digital distribution management
- Location control
- Audit trails
- Video and audio protection
- Collaboration tools
- Access expiration management
- Data storage management
3. SecureDocs data room
With an unbelievable 4.9-star rating on Capterra, SecureDocs data rooms are an automatic choice for hundreds of businesses and professionals from all over the world. Whether it's simplifying complex business deals or safely managing confidential corporate documents, SecureDocs data rooms can be trusted easily.
SecureDocs data rooms are globally used for bankruptcy cases, fundraising, due diligence, M&As, and litigations. SecureDocs VDRs were declared as "Best Ease of Use virtual data rooms" in 2020. The basic plan starts at $250 per month, which is very affordable for small companies.
Here are some notable features if SecureDocs:
- Easy and quick setup (up to 10 minutes)
- Secure file viewer
- Audit logs
- Access permissions
- Documents classification
- Data security
- Data storage management
4. Digify
Another highly-praised virtual data room in the business fraternity, Digify boasts a 4.9-star rating on Capterra. If you are looking for a secure and easy-to-use data room to store or share confidential documents with investors, partners, or clients, Digify can be your go-to option.
Globally used for complex transactions like fundraising, litigation, M&As, and other similar transactions, Digify has the following worth-mentioning features:
- Automated watermarking
- Data security
- Secure file viewer
- Audit trails
- Collaboration tools
- Access revocation
- Image protection
- Digital distribution management
- License management
- File drag-n-drop
- Audio and video protection
5. Google Workspace
Google Workspace has more than 11000 online reviews on Capterra and still managed to maintain a 4.7-star rating which is a massive achievement. Suitable for all business sizes and types, Google Workspace has some very unique features such as reserved conference rooms, personalized business emails, and screen recording.
The best part? Google Workspace has a free version, and if you want to explore more features, the paid versions start at $6/user/month. Here are some worth mentioning features of Google Workspace:
- In-domain live streaming
- Team messaging
- Noise cancellation
- Content library
- Audio and video conferencing
- Compliance management
- Availability management
- Audio calls
- Customized business emails
- Screen-recording
- Notes/commenting
- Attendance tracking
- Calendar sync
- Audio calls
- Shared calendars
Summing it up
Among hundreds of data room service providers, choosing the right one can be a little difficult. However, virtual data rooms and cloud storage solutions like iDeals, Google Workspace, and Digify can be used by professionals or companies from different business sectors.
