The best data room is one that offers the most secure and user-friendly system to conduct sensitive business transactions. It should also have advanced features to facilitate collaboration with workflow automation and management of files. This kind of software can help businesses to streamline due diligence and M&A processes, while also giving better insight into project documents. But, choosing the right vendor can be difficult given the many options on the market. This article compares the top-rated virtual rooms, and provides a useful guide to help you determine which platform is most suitable for your requirements.
iDeals Virtual Data Room provides a simple and user-friendly platform for collaboration. Its mobile and desktop apps enable seamless document sharing between teams from multiple locations. Its multilingual interface facilitates communication for teams working across the world, and its sophisticated security standards ensure that your data is safe. In addition, it offers an array of options that make it suitable for investment banks, including Q&A sector management and granular permission settings and informative insight dashboards.
Digify is a relatively new virtual deal room service that has been in operation since 2011 and caters to low-level transaction needs with functionalities such as security presents such as access revokes, printing and download permissions, and more. It also allows for third-party integrations, and has an easy, clean interface. On the other hand it does not include features specifically designed for M&A and due diligence, such as fence view remote wipe, custom watermarks or analytics. It is also a little on the pricey side.