Description of the Top 5 VDR Providers and How They Compare to Each Other

Partners use data rooms in a project to exchange and store important data. This article presents the best services for storing data securely in the cloud and arranging efficient business communication.

Why do companies benefit from using a data room?

Document control and management are among the most important areas of modern business. Every day your company creates a lot of documents and needs to store them safely and securely. Virtual data room (VDR) software for optimizing business data management is a new trend. With the help of such solutions, it became possible to solve the issues of the operational organization of document management and the management of the enterprise as a whole. The ability to store, organize, categorize, exchange, and ultimately add value to data – a key goal of any business organization today – is a feature of virtual data rooms. However, within this broader group, some companies are more inclined towards virtual data rooms than others. The most common industry actively using the functionality of virtual secure data rooms is the financial sector, where transactions involve the exchange of large amounts of information between different parties. The same applies to engineering firms, which share information with dozens of large project owners, adding vital information to a software provider that flows through this environment to other company departments.

The top 5 data room vendors’ reviews

Following, we have determined the top 5 leading data room solutions in the market and compared their basic functionality:

  1. IDeals

It is of the most well-known data management solutions for complex business transactions like M&As or fundraising deals. It is a cloud storage provider specializing in file storage and web access. Ansarada The software allows you to create ready-made templates based on successfully processed cases, which makes it possible to identify and consolidate the best practices for solving business problems.

  1. Digify

Several factors determine the security of the Digify data room. They include a detailed system for delimiting access rights, the possibility of using internal and external means of crypto protection, and the availability of tools for applying an electronic signature. In addition, there is a free version of the service for carrying out the minimum necessary operations: interaction between the participants in the transaction, working with primary accounting documents, and preparing reports for government departments. Like iDeals, Digify has an application for mobile devices, which operates on Android and iOS.

  1. Onehub

It is a modern data management solution, a universal platform for creating high-performance solutions for automating the document flow of companies in various business areas. An important advantage of the VDR is also full-fledged web access, which allows you to use all the functions of the electronic document accounting system, regardless of the user’s location.

  1. SecureDocs

The system is a comprehensive software solution for automating document flow, office work, and workflow management in medium and large commercial companies. The software allows you to solve various tasks of automating business management, including working with documents and contracts, office automation, and control of executive discipline. SecureDocs VDR takes into account the classic features of paper workflow and, simultaneously, allows you to implement in electronic form the unique business processes of each organization.

  1. Ansarada

It is an integration platform for organizing electronic, legally significant workflow for companies with many documents, operators, and internal systems. The software allows companies to combine all document processing operations into one well-organized and secure ecosystem and automate them.