We have been created this virtual data room comparison chart to help you analyse what each provider offers, their prices, features, reviews and more. All in one place.

What is a Virtual Data Room?

Virtual Data Room is an online secure data repository that is used for storing and distributing data. Virtual Data Rooms are used when there is a need for strict confidentiality of data.

It has many advantages over physical data deal rooms, like 24/7 data accessibility from any device, any location, security of data management, and cost-effectiveness.

Virtual Data Rooms are used in many industries including Biotech, IT and Telecommunications, Investment Banking, Accounting, Government, Energy, Business Brokers, etc.

List of the Best Virtual Data Room Providers. Comparison of Top Online Data Room Services.
1) iDeals Secure Data Room Provider [BEST OVERALL]
2) Intralinks
3) Merrill Datasite
4) BrainLoop
5) Watchdox
6) Box
7) Ansarada
8) Digify
9) Firmex
10) SecureDocs

Need for Virtual Data Room

The Virtual Data Room plays a vital role in securely managing M&A due diligence, bidding, and Contract Negotiations. This will help streamline and secure the deal management process.

As per the research performed by Intralinks, 90% of the VDR users trust that quality solution plays an important role in the success of M&A Deal. Intralinks also performed the survey for Cross-Border M&A.

The graph below will show you the results of the research.

If we compare Virtual Data Rooms with Generic File sharing apps (like Google Drive) then the VDRs are created with the purpose of using thousands of documents. It will be easier to use VDRs because of its structured folders.

The Generic File sharing app will make the process more complex when used on a large-scale for document sharing. Also, the navigation will be difficult if used on a large scale. These file-sharing services will be inefficient to use on a large-scale. With file-sharing systems there is a possibility for sensitive data to be accessed maliciously. Virtual Data Rooms are a more secure option for sensitive corporate data.

File Sharing systems are a cost-effective and intuitive solution for storing and sharing features. This solution has cross-enterprise-collaboration features. However, virtual data rooms provide more security for data.

It provides more security features for sharing files like timeouts or auto-expiration, reports on document activity, and putting restrictions on viewing, printing, and saving of documents.

Virtual data room pricing will differ as per the vendor. It is similar to the pricing plans of cell phones or the internet. You have to pay the basic fee and then the extra fee can be paid based on the extra features required. Some providers also offer unlimited plans at a predictable cost.