Virtual Data Room Providers
It goes without saying that not all data room providers in the UK are the same. While all virtual data room providers claim that they have the best virtual data room, most of the time they are offering data rooms that best suit individual transactions.
For example, some might be the best for conducting online due diligence while others will be better for conducting M&A transactions. It is important to study the features that these data room providers offer because you need to if these features will be enough to conduct business smoothly and efficiently and get the project done on time and on budget.
In order to help you in your search for a data room provider, we have an assembled some of the key players on the data room market and break down service offering. This will be useful to you because this way, you will know who the major players are and you will not have to read through all of the information that they have on other sites. We have done all of this for you, so you can make an informed decision regarding whether or not a given virtual data room has all of the tools you need for business.
iDeals Virtual Data Room
iDeals offers excellent service, and all the features businesses might need. But to make sure that this vendor is still on point, we’ve researched the current information for 2020. And we have to say that iDeals is indeed still the best option.
This provider made it easy to upload files in bulk and preserve the existing hierarchy of folders. To let users find the required document, iDeals offers a full-text search. Security features like Fence View, Watermarks, Remote Shred, and give users control over the safety of files. There is no need to install any plugins to use iDeals. And for user convenience, there are mobile apps.
Box Virtual Data Room
This provider used to be a generic file sharing platform. But as its experience improved, it decided to grow into the data room. So today, Box is one of the most well-known data room providers on the market.
When it comes to file management, this vendor excels thanks to its unique background. You can upload all the types of documents and work with them conveniently in your cloud storage. The data room is accessible from anywhere, which accelerates deals. And you can customize the interface. However, many other providers offer more complex and unique business features than Box.
If you need a data room solely for Mergers and Acquisitions, Ansarada might become the right solution. It offers everything a business needs for a successful deal and makes sure that the process goes swiftly. The data room is enhanced with Artificial Intelligence that helps in understanding the intentions of third-parties and making better decisions.
This provider is also suitable for holding deals that involve multiple bidders. And in general, clients are satisfied with the simplicity of the interface and the usefulness of the data room. Some customers even manage to use it for other processes than just M&A.
Being one of the oldest data room providers, Merrill knows what businesses need. However, there are some issues. So before surrendering to the desire to join all the Wall Street customers, Merrill has you should take a more in-depth look at the features of this data room.
This provider allows uploading files up to 50 GB, and you can schedule the upload if needed keeping documents in a sandbox for a while. The search feature doesn’t work as well as Merrill promises it to work. Although it’s the only drawback. Beautiful reports, useful Q&A feature, and simple interface make up for the bad search.
This vendor focuses on due diligence and M&A deals. So if you need a data room for other purposes, you might feel like Intralinks is not that flexible. And even though almost everyone from Fortune 1000 is using this provider, it doesn’t mean that it will be sufficient for you.
Since Intralinks deals with large corporations and, therefore, huge volumes of data, this vendor knows how to manage it. So you will not suffer from lags or downtimes. But when it comes to features and customization, Intralinks is not very generous. It offers mostly functions for due diligence and doesn’t allow clients to customize the data room.
HighQ Virtual Data Room
HighQ is a good but rather standard data room provider. It offers common business tools that you will find in any other VDR. And even though this vendor claims that it aims at the perfect execution, there is nothing unique about HighQ. Still, it is perfectly secure, easy to use, and accessible from all devices, and those are great qualities. So if you’re looking just for a good data room, you should consider HighQ.
One of the useful opportunities this provider offers is that you can connect this data room to other business tools you use. It will make the workflow more seamless and streamlined.
Sterling brings its customers high-quality service that has every feature a data room should have. It is a very old provider with a well-deserved reputation and many big names among its clients. With Sterling, it is effortless to manage documents and cooperate with partners.
The advanced search tool makes it easy to find the required file, and custom labels will make the process even simpler. The real-time monitoring allows entrepreneurs to see what others do and make better decisions. However, all these functions come at a high price, and we’re not sure if they’re worth it. Many similar vendors are much cheaper.
This is one of the most versatile providers on the market. It is suitable for M&A deals, IPOs, asset lifecycle management, real estate, and many other business processes that involve documents. With such a wide range of possibilities, you’d expect this vendor to have unique tools.
But if you look closely, there is nothing extra about Imprima. It is a quite basic data room with all the features you would expect it to have. Functions are rather standard, and there is nothing over the top. However, everything works perfectly fine, and the interface is easy to use. That’s why many companies stick to Imprima.