Best Virtual Data Room Comparisons, Reviews, Ratings & Pricing

What are virtual data rooms or VDRs?

VDRs are used by businesses to help store and share business documents. Frequently, businesses leverage VDRs to host proprietary business information required for high profile business objectives.

Often, companies will set up VDRs during merger and acquisition discussions to host and share materials between various internal and external parties. There are many documents that require review from executives, lawyers, accountants and bankers, among other parties.

Due to the highly confidential and sensitive nature, VDRs are set up because they offer strict security controls and customizable options to help manage the organization and operational requirements of sensitive projects.

Virtual data rooms are a specialty niche of the larger cloud storage industry and continue to gain momentum in the business community.

VDRs emerged from physical data rooms and the best vendors created software that maintain the tracking and audit trail, along with version control and security features that previously occurred with physical data rooms.

To help aid your decision making process, here are some of the best VDR vendors in the industry. Information and data provided by Cloudnewsdaily.com.

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The Growth of the Virtual Data Room Industry

Virtual data rooms (VDRs) are a specialty niche of the cloud computing and cloud storage industry. Businesses have relied on data rooms since executives started buying and selling companies. Data rooms provide a secure and controlled environment to conduct due diligence. VDRs are used by businesses to help store and share business documents. Frequently, businesses […]

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SmartRoom: Review

Intended Users SmartRoom Virtual Data Room is intended for Small-Medium Businesses (SMB’s). With over 25,000 companies and 250,000 users around the globe and counting, SmartRoom has managed over $525 Billion worth of transactions. BMC Group, the parent of SmartRoom, has clients representing Fortune 1000 companies, including: Sony, Kaiser Permanente, Sanyo, Johnson & Johnson, CA, Citigroup, […]

Virtual-Data-Room

Top 3 Most Important Features to Evaluate when Choosing a Virtual Data Room Provider

Virtual data rooms (VDRs) are online repositories of information that businesses use to store and share information. Typically, VDRs are used in specific situations related to confidential business transactions, such as mergers and acquisitions and raising capital or other sensitive deals that require a secure review of materials. In the global marketplace, many professional fields, […]

CapLinked is the premier virtual data room on the market because the software focuses on security and efficiency to help dealmakers manage transactions. CapLinked provides a secure platform that is optimized to work on mobile and across all platforms and devices making it easier for busy executives to review sensitive information.

CapLinked is different.

Data privacy is a huge factor that executives must consider when choosing how to host and store vital business information. Many software providers in the VDR space rely on plug-ins or third-party software such as Flash, Java, Silverlight or .NET to patch and integrate into their overall offering.

The CapLinked VDR solution is built on modern computer language designed for the web. Because the CapLinked software is built on Ruby on Rails technology, no plug-ins are required and the capabilities are consistent across all various browsers, operating systems and devices.

CapLinked does not require in-house IT departments to patch mobile devices or restrict access to certain employee devices. Not every VDR vendor works with existing and emerging employee bring your own device (“BYOD”) policies.

Caplinked Review

CapLinked offers some of the most comprehensive set of services and features available in the market today. The software provides industry leading security, along with the following features that facilitate review across business partners, such as bankers and lawyers. CapLinked places an emphasis on workflow to help executive improve deal flow.

  • Custom Branding
  • Bulk Uploads
  • Drag and Drop File Capability
  • Full Text Search
  • Transparent Pricing
  • 24/7 Customer Support
  • Mobile Compatibility
  • Anonymity Management
  • Audit Tracking
  • Collaboration
  • Data Protection
  • Data Storage Management
  • Document Tagging
  • Due Diligence Management
  • Procurement Management
  • Project Management
  • Role-Based Permissions
  • Secure Preview

CapLinked customers receive all of the listed features with the basic account, which starts at $39 per month per user. The low entry level price points makes CapLinked an option for all small, mid and large companies.

Firmex Virtual Data Rooms provides a cloud-based solution for sharing large volumes of confidential documents. The company transitioned into the VDR space in 2006, when they observed their clients were transactional law firms and investments banks that needed to share documents for financial due diligence and compliance. As clients searched for an unlimited use, private-label deal room as part of their practice, Firmex capitalized on the opportunity and now over 75,000 companies have used their VDRs throughout the world.

Firmex

Leaders in corporate transactions such as M&A, compliance, litigation, and procurement rely on Firmex to profitably accelerate their online document sharing and collaboration projects. Firmex concentrates on world-class security matched with an a strong reputation for customer support to provide solutions to securely share their highly confidential documents.

Firmex built its reputation on customer service that provides in-house support for all customers, with customer service operatives available 24/7/365. Firmex markets that customers will not have to wait longer than 15 minutes for a response, and calls are not transferred, so customers only speak to one person to solve any issues.

Among the security and service benefits that Firmex offers, the platform also provides the following features.
•    Easy to Add Users and Documents
•    Anonymity Management
•    Collaboration and Auto Organize Documents with Version Control
•    Data Protection and Auto Expire Old Documents
•    Data Storage Management
•    Document Tagging
•    Due Diligence Management
•    Procurement Management
•    Project Management
•    Role-Based Permissions
•    Secure Preview

Firmex attempts to provide a pricing structure that makes sense. The plans offer unlimited users, projects, pages and data storage at a fixed price without any hidden fees. The fixed rate pricing targets the middle market and mid-size businesses, but Firmex does not detail preliminary plan fees without signing up for a free trial or product demonstration.

SecureDocs is an industry-leading virtual data room designed to help companies securely sharing sensitive documents quickly with strict access control. SecureDocs, which was founded in 2005, has worked with hundreds of companies to share and store sensitive business information. Primarily, SecureDocs is a VDR, but the multi-functional software allows companies to leverage the platform as a secure corporate repository.

SecureDocs

The leading virtual data room vendors understand that software needs to move at the speed of business. With SecureDocs, executives can setup a VDR in 15 minutes and know proprietary data is secure with the two-factor authentication.

Among the standard benefits that SecureDocs provides customers, the activity alerts feature is a point of differentiation. Project managers can set a series of activity alerts to receive email notifications and daily audit logs to VDR administrators. Additionally, SecureDocs offers the following features.
•    Customizable Data Rooms
•    24/7 Customer Support
•    Anonymity Management
•    Audit Logs
•    Data Protection
•    Data Storage Management
•    Due Diligence Management
•    Project Management
•    Role-Based Permissions
•    Secure Preview
•    Two-Factor Authentication

SecureDocs makes the commitment to provide a VDR solution that is affordable for all business types and sizes. Many VDR vendors have pricing plans on a per user (or per document) basis, however, SecureDocs offers a flat rate fee that comes standard with the complete feature set, including two-factor authentication.

SecureDocs pricing starts at $200 per month as flat fee based on an annual plan. For monthly pricing, SecureDocs costs $400 per month and $300 per month for quarterly pricing.

ShareFile Virtual Data Room by Citrix is a leading VDR vendor that manages business transactions in a safe and secure cloud environment. ShareFile, which is part of the Citrix family, focuses on enterprise solutions.

The ShareFile software intersects at the corner of security and simplicity. The software is hosted and runs as a cloud-based application to avoid unnecessary downloads or installations. ShareFile is confident in the software simplicity because there is no required training. However, rest assured that customers have access to 24/7 customer support that provides information ranging from quick tips to help with large data uploads.

ShareFile offers customizable workflow solutions to help managers organize and facilitate review of sensitive information. Project managers can set access rights and control permissions at the document level to ensure sensitive data is only seen by the right eyes. In addition to the permission control, managers can track activity to ensure that executives are actually reviewing the transaction materials.

ShareFile Review

The flexible workflow solutions highlight some of the ShareFile features. Among the other services and features, ShareFile provides the following benefits.

  • Flexible Storage
  • Third Party Application Integration
  • Anonymity Management
  • Audit Tracking
  • Collaboration
  • Data Protection
  • Data Storage Management
  • Due Diligence Management
  • Workflow Controls
  • Role-Based Permissions
  • Secure Preview
  • Industry Specific Tools

The ShareFile solution is built for businesses and aims at the IT market. ShareFile data services deliver secure files that are able to be synced and shared across all corporate and personal devices, so team members remain in a stable and secure work environment.

Although ShareFile provides multiple pricing options, the software focuses at the enterprise market, which may price small and mid sized businesses out of the market. The most popular plan starts at $100 per month for up to 5 employee accounts.

OneHub designs and builds online business collaboration tools that are enjoyable to use and improve productivity. OneHub focuses on collaboration tools, which includes secure virtual data rooms that enhance interactions between clients and colleagues.

OneHub

Onehub virtual data rooms are secure, easy-to-use and cost-effective with no long-term contract lockups. There VDR software includes integration with some third-party applications like Google Drive and allows for commenting on the file or folder level to encourage collaboration.

In addition to the additional layers of collaboration, OneHub offers a Stealth Mode feature that provides blinders, which allow members to see specific content and is perfect sharing the same information with multiple bidders and competitors. Among other standard benefits and services, OneHub offers the following.
•    Anonymity Management
•    Data Protection
•    Data Storage Management
•    Due Diligence Management
•    Procurement Management
•    Project Management
•    Role-Based Permissions
•    Secure Preview

The most popular OneHub pricing plan is the Business Plan that starts at $99.95 per month and includes 5 users accounts and unlimited workspaces and storage. OneHub also includes a Team Plan that helps small teams or businesses that starts at $29.95 per month. The Team option includes 3 users and 1 TB of storage. Both plans include the standard enterprise-grade security and options to white label the VDR. The Business Plan includes many more features that help secure confidential materials such as password-protected links, session timeouts, additional data room security, document watermarks, audit tracking, full text search and 24/7 phone support.

Drooms Core provides founders with a secure cloud-based virtual data room focused on the fundraising process. In the competitive VDR niche of the cloud software sector, Drooms offers a highly specialized software solution to help all companies looking to raise capital. The fundraising process can be complex and requires multiple touch points to complete due diligence, so Drooms offers founders and investors with an option to ensure your documents are secure, under control and easily accessible.

Preparation and organization are critical to companies looking to raise capital and Drooms provides VDRs to help companies throughout the fundraising journey. There are massive amounts of sensitive and confidential business materials, so Drooms provides a secure cloud solutions build on the industry leading standards.

Drooms Core

In addition, to the security measures, Drooms features the following services and benefits.

  • Anonymity Management
  • Auditing
  • Collaboration
  • Data Protection
  • Document Tagging
  • Due Diligence Management
  • Role-Based Permissions
  • Secure Preview

As Drooms focuses on data rooms specifically to manage the capital fundraising process, the core market is startups and small businesses. In fact, as an introduction to the software, Drooms offers a free plan, which includes 5 users and 1 GB of storage, along with access to the desktop and iPad app.

Drooms offers a basic plan, which is recommended and starts at $9.99 per month per user with a minimum of 10 users. Like the free plan, users have access to the desktop and iPad app, but 5 GB of storage (with additional storage for additional users).

For any business looking to set up a VDR during the fundraising process, then Drooms is worthwhile (especially with the freemium business model).

HighQ is a European based technology company that provides a secure VDR platform optimized for quick setup and fast access to complete deals. HighQ, which was founded in 2001 has helped complete over 10,000 business transactions across various companies in the legal, banking and corporate sectors.

The HighQ virtual data room is designed for efficiency making it simple to help executive quickly and securely upload sensitive and critical business materials. The cloud-based VDR enables deal teams, clients and other external vendors to review transaction documentation within minutes. Executives can rest assured that documents are managed with full access control and audit tracking capability.

HighQ

An interesting and unique component of the HighQ VDR is an advanced Q&A portion of the software. The VDR contains a module that allows team members to securely manage bidder questions and responses with advanced permissions, workflow and alerts to ensure that transactions are completed as quickly as possible with no unnecessary delays.

HighQ is also built on HTML5 technology, which means users can view materials across all mobile and tablet devices. Along with the mobile optimization, HighQ offers the following features and services.

  • Anonymity Management
  • Audit Tracking
  • Collaboration
  • Data Protection
  • Data Storage Management
  • Document Tagging
  • Due Diligence Management
  • Project Management
  • Role-Based Permissions
  • Secure Preview

HighQ provides businesses with an extensive set of features, which helps explain the multi-tier pricing structure. Unfortunately, preliminary pricing information is not available without requesting the company for a demo or quote.

Based on the different models for single-use data rooms for one off projects, multi-use data rooms designed for small teams and enterprise data rooms ideal for large deal teams with storage priorities.

Box is a well-known company that offers a variety of products and services based on the cloud storage. Most people are aware of Box via its personal cloud storage products, but Box also offers large companies virtual data rooms as well as part of their overall enterprise solutions.

Box

As Box explains, VDRs are ideal for executives that need to negotiate an agreement, manager a merger or other business transactions that require sensitive and confidential information. Box puts businesses in control by moving document management out of insecure email and complicated FTP and into a secure deal room.

Box provides enterprises with the ability to create a VDR in minutes and start sharing information with potential partners or customers safely by applying variable permissions restricting upload, edit or preview. The Box VDR solution allows managers to simply create project folders, upload document and apply layers of protection so only the right eyes see the appropriate confidential documents. Among the intuitive user experience, Box also offers the following benefits.
•    Active Directory and Single Sign On
•    Custom Branding
•    Mobile Access and Security Controls
•    Integrations with leading EMM providers
•    Advanced User and Security Reports
•    Box for Enterprise Mobility Management (EMM)
•    Data Loss Prevention and File Locking
•    Premier Content Security and Management
•    Unlimited Integrations with Third Party Applications
•    Workflow Automation and Audit Tracking
•    Custom Terms of Service
•    Admin and Help Desk Role Delegation
•    Enhanced Session and Account Management
•    Device Trust
•    Desktop Sync
•    Two-Factor Authentication
•    Full Text Search
•    Access Stats

Box has multiple pricing options that are based on individual and small business plans. The Box VDR solution should be based on the Business Plan that starts at $15 per month per user with a minimum of 3 users and unlimited storage. For companies that require a dedicated VDR, the enterprise solution is the most suitable option and must contact Box for pricing.

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