Starting a new business is always exciting, but it is backed up by a lot of critical thinking, planning, and fund management. As startups go digital, it is very important to choose the right virtual platforms, such as data room software, to streamline your business processes.
Virtual data rooms help you streamline your data management system and can serve as a virtual working place. But can you trust all data room providers in the market? Choosing the right dataroom software is very important if you want to get what you actually want from the VDR software.
If you are having difficulties deciding what type of a digital data room you need for your business, this guide can help you make a better decision.
What should you look for in data room software?
What you want in an electronic data room solely depends on you. However, here is what you should look for in a data room.
- The basic purpose of a data room is to simplify things, not complicate them. Choose a data room that is easy to use, and your employees can navigate through it easily.
- Look for a vendor that either helps you set up the data room or at least provides easy-to-understand tutorials on the data room setup and usage.
- Audit logs or monitoring tools are a must-have feature for any data room. A virtual data room that doesn’t allow you to keep track of everything is simply useless.
- Never ever compromise on your data room’s security. Data room software helps you protect your business data, and for that, it is necessary to use certified data room services. Always look for certified vendors who comply with international data security standards.
- A virtual data room is as good as its customer support service. It is possible that you may face difficulties in operating a data room, and only a strong customer support service can help you with that.
- Last but not least, always compare multiple data rooms on the basis of their features, customer support, pricing plans, and customer reviews.
Top 5 virtual data room providers
Intralinks data rooms are usually suitable for medium and large-size businesses, but their flexible pricing plans make them a good choice for startups. According to online reviews, an Intralinks VDR subscription starts at $25/user/month, and they offer a 30-day free trial.
Apart from being a safe data repository, Intralinks data rooms are AI-based. They have an intuitive user interface (ease of use) and useful features like auto-indexing, digital watermarking, document management, RFP management, content library, version control, etc.
Intralinks have a multi-dimensional customer support service, and data rooms are deployable on multiple operating systems, including Windows, Linux, Android, and iOS.
iDeals virtual data rooms are best suited for small, medium, and large-scale businesses. In other words, iDeals is an allrounder that can cater to the needs of any type of business. Just like Intralinks data room services, iDeals also offers a 30-day free trial and has three standard pricing plans.
What differentiates iDeals from other data room services is their strong customer support service. The company goes the extra mile to incorporate customer feedback into its solutions. Apart from basic to standard data room features, iDeals data rooms are available in 14 languages, offer unlimited data storage, and support 25 file formats. Most importantly, iDeals is deployable on all widespread operating systems, including iOS, Linux, Windows, Android, and Mac.
If you are just starting out and running your business on a small scale, Box data rooms can be the solution you need. That is because this data room service has multiple pricing plans for individuals, small businesses, and enterprises.
Box’s pricing plans for businesses start with $5 to $25/user/month. Moreover, Box also offers a free 30-day trial. Talking about features, Box comes with features like auto-expiration, mobile security controls, custom branding, and data loss protection.
Box data rooms support Windows, Windows Phone, Android, and iOS and offer unlimited storage.
Ansarada virtual data rooms are very effective for remote workers, enterprises, and small and medium-sized businesses. The company offers three standard pricing plans; you can get further details from their official website.
Ansarada data rooms are powered by AI and offer handy basic and advanced features like e-signatures, secure file viewer, minutes management, calendar management, audit trails, collaboration tools, security timeouts, digital watermarks, deal collaboration, team collaboration, and document classification. Apart from that, Ansarada is integrable with Dropbox and Google Drive.
However, Ansarada is only available in the English language and supports Mac and Windows.
A highly suitable option for small and medium-sized businesses, Digify offers two standard pricing plans: team and enterprise.
Digify allows you to upload multiple files and is integrable with Dropbox and Google Drive. Apart from that, other notable features and benefits include team-wide file statistics, advanced encryption, file tracking, digital watermarks, access control, etc.
Digify is available in the English language and also supports commonly used file formats like videos, audios, and PDFs. One of the best things about Digify is its integration abilities with Windows, Mac, Android, iOS, and Linux.
Virtual data rooms are an asset to your company, and conducting thorough research before investing in them can help you get desired results. Choosing the right data room software depends on your needs, but make sure it is easy to use and has strong customer support service. Moreover, you can read our guide and see if you can find the right VDR software for your new business.