Virtual data rooms are packed with companies that all claim to be the best. The sheer variety of options can make it difficult to differentiate between reputable and unworthy providers and choosing the wrong software can be a huge error that could negatively impact your company for years to come.
It is important to think about the features that are most important for your particular project and the market that you work in when selecting the right VDR. For instance, if are involved in M&A transactions It is vital to find a VDR which can streamline the lengthy due diligence process. Ideally, you want a VDR that allows you to track activities and transform it into customizable reports that allow for easy analysis and reporting.
FirmRoom for instance, is a leading VDR which helps businesses streamline collaboration and file sharing processes while providing advanced security and privacy functionality. It features a clean and intuitive interface, customizable templates for bulk uploads, monitoring of users’ activities, and more. It can also be used with other cloud-based solutions and includes API integration.
Securedocs is another great VDR which is focused on simplicity. It is suitable for small – to medium-sized companies and startups. Its security features include Google Docs integration, branded workspaces customized agreements, automatic watermarking and AES256 bank-level encryption. It also offers permissions based on role and an extensive set of business tools, which includes an online dashboard.