A virtual data room is a technology for storing and collaborating on documents. Usually, this is cloud storage, but some providers offer users desktop programs for more comfortable work.
How is VDR different from a regular data cloud?
It is unlikely that in the civilized world now, there is a person who does not use cloud storage. Giant corporations such as Google or Apple offer users the ability to store files on disks and clouds. And also, there is Dropbox, VanDrive, and others.
Why can’t they be used for business? After all, manufacturing companies guarantee optimal data protection, the possibility of flexible access settings, and many other “goodies.”
The main difference is that classic cloud storage does not guarantee sufficient data protection. They are very easily hacked, and storing confidential information about a large company is strictly forbidden. Large enterprises even prohibit employees from transferring work documents through iCloud, Google Drive, and other clouds.
VDR encrypts data in the same way as it does in the banking sector, allows you to configure access to documents extremely flexibly, and has almost unlimited possibilities for expanding space.
Top Virtual Data Rooms
So, if you choose a virtual data room for your company, you will need to select from among the universal offerings that VDRs are more inclined to work with small or large enterprises.
For small and medium businesses
For small and medium businesses, you can consider the following options:
Sharefile
An inexpensive option for small businesses that has a user-friendly interface and many integrations, in particular with products such as Google Suite, Microsoft OneDrive and so on. Compared to more expensive data rooms, this is a simpler approach to security, but for small businesses, this may be enough.
Fordata
The main task of the developers of this service is to create a product with the highest level of customer support, and a convenient and simple interface. Any user will be able to understand the program. In addition, there are more features than in the previous version and additional layers of data protection.
FirmRoom
A very good choice for medium-sized businesses that are already involved in major transactions (e.g., M&A). This program is used by some very large business players, such as Pfizer, Baird, and J.P. Morgan. Security certificates say your data inside this room is under an uncrackable iron lock.
Medium and large business
For medium and large businesses, programs are suitable:
Merrill
A convenient tool for large companies that work with large amounts of data. Here you can conveniently place all enterprise files in folders and provide all necessary users with different access levels.
The tool is very well suited for companies that deal with private property, law, and finance.
Intralinks
The tool is not easy since here; users can assemble functional blocks on their own. Each corporation independently decides which “puzzles” of this program it will order for its employees and partners.
Huge functionality and colossal developments in data protection make Intralinks the most successful for large companies.