Virtual Data Room reviews by real, verified users. Find unbiased ratings on user satisfaction, features, and price based on the most reviews available anywhere.
Products classified in the overall Virtual Data Room category are similar in many regards and help companies of all sizes solve their business problems. However, small business features, pricing, setup, and installation differ from businesses of other sizes, which is why we match buyers to the right Small Business Virtual Data Room to fit their needs. Compare product ratings based on reviews from enterprise users or connect with one of G2's buying advisors to find the right solutions within the Small Business Virtual Data Room category.
In addition to qualifying for inclusion in the Virtual Data Room Software category, to qualify for inclusion in the Small Business Virtual Data Room Software category, a product must have at least 10 reviews left by a reviewer from a small business.
iDeals Solutions is a sophisticated and trusted virtual data room provider. Our experience and exceptional results have been tried and tested by investment bankers, lawyers and top managers of enterprises around the world. As the most result oriented and flexible company in the market we always listen to our customers and offer them the most secure, comfortable and fast solution to achieve their strategic goals in any kind of transaction.
DocSend helps business professionals like you to securely share and control the content that drives your business forward. DocSend's powerful link-based system makes it easy to set security preferences for each stakeholder, receive notifications each time someone views your file, analyze content performance on a page-by-page basis, and create modern virtual deal rooms. Join over 16,000 companies that rely on DocSend to share and manage sensitive information.
Citrix ShareFile helps businesses exchange files easily, securely and professionally. Citrix solutions power business mobility through secure, personal workspaces that provide people with instant access to apps, desktops, data and communications on any device, over any network and cloud.
The ShareVault virtual data room makes it easy for you to securely share confidential documents with third parties. Backed by the experience of billions of dollars in deal transactions, ShareVault is the preferred virtual data room for M&A, Asset Sales, Fundraising, Licensing/Partnering, and Board Collaboration. Thousands of large, medium and small companies, VCs, investment bankers, law firms and accountants rely on ShareVault's simple and secure platform for streamlined due diligence. Com
Businesses use virtual data rooms (VDRs) to securely store and share sensitive company information in a safe, online repository, which can either take the form of a secure website or secure web application that is set up through a proprietary extranet. Businesses and clients can virtually meet within the room and examine the sensitive documents they have been given access to in order to make a business deal, discuss legal information, or simply review the documents as they see fit. Sensitive information typically includes private company documents; sensitive client, tax, legal or financial information; intellectual property; or any other important document that requires extra security to ensure its confidentiality. VDRs are ideal for companies that require a high level of safeguarding of certain documents but are also made easily accessible to those that are authorized to handle and share them. Before the introduction of virtual data rooms, physical data rooms were the norm and helped facilitate safe and secure document access and sharing. However, since virtual data rooms proved to be safer, more convenient, and less expensive than traditional physical data rooms due to their increased security measures and lower upfront costs, they have largely replaced the latter over time.
Key Benefits of Virtual Data Room Software
Virtual data rooms are important for industries that require safe and accessible storage and sharing of documents. Some businesses might compare the pros and cons of choosing between a virtual data room and a file storage and sharing software. While virtual data rooms provide some of the same features as a file storage and sharing solution, virtual data rooms offer much higher security measures and are essential for industries that require strong safety measures for their files. On the flip side, unless heavy security measures are needed, virtual data rooms prove to be inefficient and cumbersome due to the restrictions and authorizations involved. A simple file storage and sharing system would suit businesses that don’t need to comply with stringent security regulations. There are several industry matters that present a need for VDRs:
Mergers and acquisitions — VDRs are essential during the due diligence phase of a merger and acquisition (M&A) because M&As require the legal disclosure of all relevant documents and information pertaining to the companies involved in the acquisition process. During the due diligence phase of an M&A transaction, both involved parties can leverage the stable and secure environment that virtual data rooms provide in order to share relevant documents.
Board communications — In many cases, board members often require the exchange of sensitive or proprietary documents. Virtual data rooms provide a safe platform on which board members can easily communicate and share important board documents.
IPOs — Initial public offerings (IPOs) can be a cumbersome process. IPOs require businesses to be more transparent with their activities and transactions than they may be used to. VDRs can help those businesses navigate juggling their public-facing responsibilities with any internal compliance duties. Virtual data rooms can easily add new authorizations to new and prospective shareholders while keeping document security a priority.
Any business that creates and shares sensitive proprietary or client information will benefit from virtual data rooms. However, some industries require the software more than others. Financial institutions benefit greatly from virtual data rooms, as they facilitate safe document sharing while also preventing cybersecurity risks, which are unfortunately commonplace in the industry. Additionally, any industry that faces identity theft risks, sensitive information leaks, or sensitive legal information would benefit from virtual data rooms because of the complex security measures VDRs offer.
Venture capital firms/private equity firms — Venture capital firms and private equity firms use virtual data rooms to securely share portfolio information, financial information, and tax documents.
Legal firms — Lawyers and other legal professionals can more easily share confidential legal documents between clients and authorized third parties in virtual data rooms than a standard file and storage sharing system.
Real estate companies — Real estate companies also deal with due diligence situations, so virtual data rooms are a major asset for the industry. Situations such as property exchanges, appraisals, and the process of selling a home involve confidential document sharing between several parties.
Nonprofit organizations — Any nonprofit that requires the storage and sharing of sensitive fundraising documents, grants and other financial documents, and association lists have a use case for virtual data room software.
There are many useful features included in most virtual data room solutions:
File sharing — User-to-user file sharing is granular and restrictive to ensure the utmost security. However, authorized users that have the right to view certain documents can access them easily and safely within the virtual data room.
Security and encryption — One of the main features of a virtual data room is the ability to grant document permissions to specific users to maintain a secure setting. Files are kept safe and secure with encryption, two-factor authentication, as well as single sign-on controls. Additionally, watermarks and remote shredding add another layer of security.
Viewer history — Authorized users have the ability to track how long someone spent on a certain document, where clicks were made on the document, and where else a viewer has navigated within the virtual data room.
OCR — With optical character recognition, users can use full-text search terms to easily locate a word or phrase in a document.
Live chat — Live chat features encourage collaboration and conversation about specific documents, which is especially helpful for users that are collaborating with other users remotely.
View-only — For added security measures, users can adjust who has the power to edit documents within the virtual data room. Those who should not have the power to edit a document, and instead should only have the power to view it, can be assigned view-only access, which restricts editing.
Reporting — The reporting feature gives metrics and insights into page views, user account view history, and recent searches.
Drag-and-drop file upload — Users can easily upload documents into a VDR by simply dragging and dropping files and folders from their desktop into a designated folder that’s stored in the virtual data room.
Bulk upload — Users can upload more than one file at once to speed up the upload process in the virtual data room.
Authorization issues — While security is the main benefit of virtual data rooms, it can often lead to authorization and access issues. Users that have the ability to assign authorization will have the responsibility of ensuring all parties that require access to a specific document or set of documents gain accurate authorization. Users that do not have access to a product but are entitled to authorization may end up confused and frustrated, especially if they require the document for a time-sensitive reason.