There are many providers of virtual data rooms. Each option has its advantages and is suitable for specific users.
Virtual Data Room Providers
Virtual data rooms can be selected for small, medium, or large businesses, as well as start-ups. For example:
- DealRoom. This provider offers its users convenient storage and works with files, as well as the ability to conduct deep analytics using artificial intelligence. DealRoom is an excellent option for deals in large companies, especially if they are frozen in place and must be defrosted.
- FirmRoom. A good average that offers all the necessary features of a virtual data room. Extensive integrations and user-friendly tools have enabled FirmRoom to attract high-profile clients such as Pfizer, Baird, and JPMorgan.
- Intralinks. Many people have a question: why is this data room more expensive but do not offer as many features as competitors? It may seem so at first glance; however, Intralinks is one of the best options for mergers and acquisitions.
- iDeals. Ukrainian development 2008 has been one of the leaders in the market. High-security standards and comfortable tariffs for businesses of various formats are the main highlights of iDeals. You can even use the program for medical research.
- FORDATA. An excellent option for small, medium, and large businesses. The functions here are ordinary, but VDR captivates customers with the speed of its work. On average, FORDATA performs better than its competitors.
- Box. This virtual data room is quite simple and may remind some users of Dropbox. It is inexpensive, has all the necessary functions for doing business. Good for small business or startup.
You can also check out the rather respected Merrill platform, Securedocs, and the humble Sharefile VDR for SMBs.
Benefits of VDR
Virtual data rooms are quite advanced technologies with several advantages.
Minimizes costs
You only pay for what you use, whether it’s computing power, traffic, or support – there are no significant one-time investments. Compared to building a similar internal infrastructure with no on-demand service and limited scalability, outsourcing databases to VDR is an affordable and cost-effective solution.
Scalability
Whether you need to scale your database to store 1000 records or 100 GB of documents is a matter of a few clicks. Again, you can zoom in or out to suit your needs. Similarly, the distribution and selection of computing power are also scalable, as resources are ready to be allocated or reused from the pool.
Unlike in-house database setups that require lengthy installation, configuration, and migration of software and hardware, this is the most significant benefit and saves time and money.
Security and performance
The VDR provider takes full responsibility for data and hardware security, subject to strict adherence to your security instructions, such as user account management, etc. Since the system is not located on company premises but in a remote cloud, data and integrity are safer than deploying a similar solution in-house.
Cloud multi-node cluster computing systems make data processing extremely fast. In addition, they speed up applications and increase processing time, which increases customer and employee satisfaction.