Data Room Review of Providers
When choosing a virtual data room, it’s important to evaluate a provider’s features to ensure that they are appropriate to your project’s requirements. In addition to basic storage for files, you should look for security measures like individual user permissions for users and multi-factor authentication sessions, session timeouts, and location restrictions that will stop data leaks and unauthorized access. Document security features include watermarking for spreadsheets, secure spreadsheet viewers and view-only mode that restricts sharing without permission and screenshots.
A VDR should also include data hosting and storage as well as a secure internet connection and anti-virus scanners, as well as uptime guarantees directory and security certifications that can protect the confidential files of your business from cyber threats. Pricing models should allow you to select from a flat-rate per project, or one that is dependent on features, storage size and the number of users.
The most popular online data rooms include iDeals, Intralinks and Ansarada. iDeals has been praised by its users for its simple interface including desktop and mobile applications, multilingual support, video uploads, and Zoom integrations. It’s not customizable and some users are unhappy with its steep learning curve.
Ansarada has been the preferred partner in numerous M&A transactions due to its reputation for security. Security-first strategies include several tools that safeguard confidential data during the M&A process. These include granular permissions to users as well as a complete range of workflows based on roles. Users also appreciate its flexible pricing plans.