You will require a virtual room (VDR) if you are conducting a transaction that requires secure exchange of documents. A reliable VDR can make your life easier and improve efficiency by providing an efficient platform for sharing documents and for storing data. It should be able to support multiple file formats, provide high-speed uploads and downloading as well as Q&A functions and allow mobile access. A good VDR will also include robust security features, such as watermarking for documents and granular permissions.
Box Data Room is trusted by more than 95,000 companies, 68% of which are listed in the Fortune 500. Its workflow tools that are streamlined, simple deployment, and mobile app integrations are perfect for small or regular transactions. Some users say that the system is hard to use and lacks advanced features.
Ipreo Prism Virtual Data Room provides a secure platform for sharing data with investors and key stakeholders. Cloud technology permits quick implementation without the requirement for downloading or installation. Its precise reporting system allows users to monitor their activities and gain insight. It is compatible with multiple languages, and provides a variety of file types, including PDFs as well as PowerPoint Presentations.
RR Donnelley Venue Data Room is a comprehensive solution for M&A due diligence on both sides of the transaction, corporate repository management and procurement management. Its security features include file-level protection as well as data encryption at rest and advanced security controls when viewing and downloading files. It also provides a range of collaboration tools, including chats, Q&A and more. However, some users have reported that the interface isn’t as intuitive as it appears and that the pricing structure is more expensive than other providers.