Data room service providers provide central storage for the storage of digital documents and files that are used in business processes and transactions like M&A due diligence or litigation cases. They typically provide a secure virtual environment for collaboration and data sharing with strong encryption and authentication techniques as well as rigorous physical security measures such as limited access control as well as professional surveillance, as well as advanced search tools for quick document identification.
When choosing a VDR provider for your project you must consider the number of documents to be stored as well as the size of the documents. Text documents, for instance are smaller in space than high-resolution images or technical drawings. It is also essential to find a vendor that has enough storage space to support your project. Most vendors offer a free trial or demo account to allow you to test the software before signing up.
Look for a provider which has a simplified, efficient workflow. The best services enable straightforward collaboration between users and allow them to upload and download, read and leave comments on documents at any point of the day. You can also create and edit folders to organize your documents to make browsing more efficient. They will also give you a thorough report on who is using the VDR.
iDeals Solutions is one of the most popular VDR providers. Others include Intralinks Holdings ShareVault and Firmex. Each of these VDR providers has distinct features however, they all provide an intuitive user experience to companies.