Virtual Data Room Providers
Virtual data room services play an important role in the business performance of contemporary corporations and small enterprises as they allow secure storage and exchange of confidential and sensitive data.
There is no wonder that lots of virtual data room providers emerge along with diverse cloud storage platforms.
The variety of services available makes the life of deal-makers more simple: each of them may find the platform that satisfies the demands and meets the expectations.
We would like to offer you our selection of the major data room providers and to indicate the key benefits and weak aspects of the main vendors.
Top Virtual Data Room Provider for 2018
iDeals operates in the virtual data room market since 2008 and its data room has already gained the reputation of convenient and secure cloud-based platform. iDeals VDR is successfully utilized by the representatives of diverse industries such as life science, biotech licensing, investment banking, real estate, fundraising, etc. The room is especially convenient when it comes to cumbersome and time-consuming projects such as M&A deals. In a course of due diligence data room offered by the vendor plays the role of a virtual venue where all the relevant documents are being stored, examined, and discussed. The main task of the virtual data room is to guarantee secure document sharing and iDeals accomplishes this duty successfully. The room is protected on multiple levels: data encryption, watermarks, firewalls, and other features ensure that documents uploaded to the iDeals virtual data room would not be compromised.
Along with secure document sharing customers get the highly functional operation environment efficient for execution of the variety of actions. The room proves to be great for file storage as every piece is systematized and the advanced search tools simplify navigation within the system. iDeals is also famous for the decency of Q&A section it provides: the section makes it possible for a project’s participants to stay in touch with each other, to discuss documents and to get a comprehensive understanding of the tiniest nuances of any file. Hence, iDeals proves to be trustworthy and decent data room provider.
Intralinks belongs to the oldest players in the VDR market. Being established in 1996 it has over 20 years of experience. The company works mainly with large enterprises (such as representatives of Fortune 100) and focuses on big-scale deals. On the one hand, it allows the vendor to gain an extensive experience in solving the most complicated riddles and in assisting throughout the most cumbersome deals. On the other hand, the prices for services are higher than average. In general, there are three product editions that differ in terms of functions available and that suit certain types of deals. In a case, the basic model is not enough for successful deal execution it can be extended with the help of extra modules which focus on specific processes. Hence, Intralinks makes sure that any client would get exactly what his project requires.
The VDR performs all the functions expected from a classic data room. In addition to the secure data storage and exchange, it ensures smooth collaboration inside and outside an enterprise: the tools offered simplify communication between the employees and give a chance to stay in touch with external parties. The deal-making is the main focus of Intralinks and it does its best to guarantee support on each stage of the project execution. Especially helpful it proves to be in a course of due diligence.
Similarly to Intralinks Merrill prefers to collaborate with large enterprises and financial institutions. The company claims to be the “global leader” and assists lots of customers worldwide: their VDRs are mainly utilized for the execution of complex and cumbersome deals. Therefore, there is no wonder that prices for services are pretty high.
The VDR complements the other services of Merrill that provides consulting, content management, and financial services. Along with DataSite, customers may enjoy such platforms as Bridge, Connect, and DPA. Their main task is to ensure smooth and productive internal and external interaction and teamwork. Considering the variety of options offered Merrill may successfully take a burden of information management of any enterprise. It means that the client can confidently delegate these tasks to Merrill and concentrate on more acute nuances of the company’s performance. Anyway, the VDR offered by Merrill abides by all the industry standards and provides customers with all the required options – secure file sharing, convenient storage, integration with software, intuitive navigation, multiple communication tools, etc. Nevertheless, it seems to be more logical to exploit the VDR by Merrill in a case when other products of the company are being utilized too: the client would experience all the advantages if the services are used in a complex.
RR Donnelley has been established in 19th century, namely – in 1864. Since then it made its way from a mapmaking firm to one of the Fortune 500 companies with almost 12 billion dollars annually in revenue. Today it provides services connected with printing, digital and communication solutions, etc. The clients of RR Donnelley include the representatives of healthcare, manufacturing, and other industries: the scale of operation is rather wide.
Following the plan to extend and diversify their communication services RR Donnelley came up with the idea of opening their own virtual platform called “Venue.” Financial institutions constitute the key audience the room was designed for: Venue is supposed to assist them in complex local and cross-national projects. The interface of the VDR contains all the tools and features that are expected to make any M&A deal run smoothly. However, when it comes to other purposes, types of deals and industries Venue by RR Donnelley may seem to be a bit limited in its functionality. Indeed, even though the room is equipped with all the standard functions and guarantees the required level of data protection, Venue might be not that convenient for any other projects despite M&A deals. Also, Venue is not the main product offered by RR Donnelley: the company treats it as a complimentary service. Therefore, the VDR may not get as much attention and as many innovative improvements as it is required under the conditions imposed by the ever-growing VDR market.
While other players in the VDR market are trying to satisfy as many customers as possible, Ansarada focuses on one particular kind of clients, namely – on those involved in the execution of M&A transactions. Indeed, Ansarada states it was created exclusively for facilitation of deals between buyers and sellers. From the perspective of its functionality, this VDR is characterized by several pluses and minuses. Apparently, when it comes to merger and acquisition projects Ansarada simplifies the life of the both sides, of their advisors and analysts significantly as all the functions offer and the interface are designed in the way that speeds up and facilitates the entire process. However, the room seems to be not the best choice for other types of deals: Ansarada cannot be treated as a good platform for long-term data storage and exchange. Hence, it performs better when being utilized for individual deals.
Ansarada is an Australian company that emerged in 2005. Since that moment it tried to penetrate into the VDR market and to make an affirmative emphasis on the segment of M&A deals. As of today, their software had been released in its 3rd edition. However, the functionality of the platform remains standard and does not exceed the set of instruments required for successful M&A.
Brainloop is the vendors with its headquarters in Germany. Its main focus is assistance throughout deal-making collaborations. It means that Brainloops provides diverse software that simplifies and facilitates communication between the project participants and guarantee safe information exchange. While Ansarada and RR Donnelley make emphasis on mergers and acquisitions and design their VDRs in compliance with the latest requirements buyers and sellers, Brainloop has released the platform that has no particular specialization: Secure Dataroom would be convenient and helpful for all deal-makers who seek for the safe environment for information exchange. The variety of its customers proves the universal nature of the VDR: social networking sites (e.g., Twitter, Foursquare), Allianz, the European Space Agency, etc.
The VDR resembles a Swiss Army Knife: being equipped with a wide range of tools Secure Dataroom turns into the instrument that may come in handy disregarding the type of the project, the purpose of a use, and the sphere the client works in. Moreover, the download of the software is not required. However, the complex functionality of the platform might cause delays in the execution of transactions: a certain time might be required to introduce inexperienced clients into the way Secure Dataroom functions.
Firmex combines traits of the huge VDR vendors and brave small-scale startups. On the one hand, you enjoy the functionality inherent to experienced providers. At the same time, you observe constant innovations and moderate prices that characterize fearless newbies who fight for the own niche. Being a relatively new player in the market, Firmex has managed to gain the respect of numerous clients worldwide: the company claims to support over 75,000 clients. On the list of their users, the one may notice such well-known names as Deloitte, PWC, E&Y, Deutsche Bank, and many representatives of investment banks, legal firms, energy, mining, pharmaceutical sectors, etc.
The VDR proves to be the most convenient for merger and acquisition transactions as it is equipped with multiple instruments that facilitate communication, speed up due diligence, and simplify every aspect of collaboration. In general, the room offers the usual set of options required for successful deal-making. For instance, it can boast of an excellent customer service. However, Firmex possesses plenty of unique and advanced features to surprise any customer. “View As” option is of a particular interest: it allows the platform owner to check out how each of the visitors views the VDR and to ensure himself that none of the files was accidentally viewed by a wrong user.
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