The Top 5 VDRs and How They Compare: Features, Pricing & More
Recently, VDRs have become the fastest-growing tools for cloud computing. Virtual data room services have eliminated all barriers between time, place, and space, bringing people together in one place. A virtual data room which provides safe online distribution of sensitive information, reduces the significant cost of physical data rooms.
VDR is a website with limited controlled access (using secure login comes from the provider which can be disabled at any time to the submitter if the applicant withdraws). Much of the information published will be confidential, and restrictions must be placed on the ability of viewers to pass it on to third parties by forwarding, copying, or printing.
Selecting the right, top VDR providers depends on many factors, and without the right information, the process can be overwhelming. Let's start by looking at the features to consider.
How to Choose the Best Data Room?
There are several factors that are clearly seen and prioritized in the selection phase of virtual data room vendors.
Features vary between virtual data room providers. However, there are a few standard features that should be included with any type of VDR. Standard features:
- Configurable folder permissions. While in consumer document-sharing services folders can be public or private, in VDRs administrators can choose which specific users can see a file and how much information they can access.
- Configurable document permissions. Similar to folder permissions, VDRs allow different parties to a project to have different levels of access to documents.
- Document expiration. Documents can be accessed for a certain amount of time, and access can be revoked if something changes.
- Watermarks. Documents can be watermarked to avoid unwanted duplication and distribution.
- User activity monitoring. Administrators can see which users have accessed which documents, leaving no questions about the security and activity of the project.
- Custom branding. Allows a company to add its own logo to the VDR interface.
- Project archiving. Upon project completion, VDR saves all documents and activities for future use.
What Affects the Cost of a Virtual Data Room?
The cost of data room software usually consists of a list of different components, which includes:
- Data storage
- Security certification of the provider
- System functionality
- Technical support
- Personalization options
- Provider brand
To ensure information security, such a solution must have an important property - manageability. You could say that a virtual data room is a kind of extranet, so it is not public and does not work only within your company, like an intranet. The use of virtual data rooms is primarily for management and compliance, not for improving user collaboration.
Top 5 VDRs Comparison
In the market, you can find many data room providers so it will be a bit overwhelming to make a selection between many data room services. Here are the best ones that deserve to pay attention to.
Get acquainted with one of the best data room providers - iDeals. This data room helps you to store and protect your important business documents with maximum security. This VDR comes with a user-friendly interface that helps users understand the process in a very short time. It supports over 25+ file formats for secure viewing, printing, and uploading.
- Fast file uploading
- 25+ file formats support
- Available Internet Explorer
- Automatic index numbering
iDeals offers users three different plans, such as Pro, Business, and Enterprise, starting at $460.
Digify is an online data room software that allows users to customize their data rooms as they see fit. It organizes all data and presents it to users in an up-to-date manner. Its security is very high and only the right person/user can access the documents stored in the data rooms. You are allowed to personalize and add your logos, colors, and avatars to the data rooms to attract viewers. A team of experts will help you around the clock.
- Password protection
- Print and download restrictions
- Document tracking
- Screen protection
- Document expiration and self-destruction
Monthly pricing starts from $150 to $1500 per month.
EthosData suggests simple and safe VDRs that allow you to complete transactions with ease. This provides the focus on transactions while they take care of all documents related to the transaction. With this virtual data room keeps your transaction information and details private.
- Dealing with complexities
- Data rooms are managed by experts
- No need to install software or plugins
- The platform is certified to international third-party standards
- Unlimited number of training sessions
- 24/7 Service
DocSend has an easy-to-use interface. You can share multiple files and access all of them in one place and with one link. It allows you to restrict access to virtual data rooms to specific email addresses and domains. DocSend has an amazing feature to customize your electronic data room with logos and banners. The price starts from $15 to $250.
- All documents can be accessed via a single link
- Intelligent permission management
- Granular file access
- Personalization of your data room
- 24x7 expert support
Citrix is a cloud-based virtual data room that allows you to access your important and sensitive information/data stored from anywhere. It also provides analytics for audited data. You can even schedule a time to audit the content, which is an amazing feature provided by Citrix.
- Advanced data protection
- Extensive auditing and reporting
- Optimized loading and synchronization
- DVD backup
- 24x7 customer support.
Once you have an idea of the basic features of virtual data rooms, you can start comparing the offerings of different providers. Since good providers tend to have most of the above features, you basically need to understand how their VDRs work, what types of projects they specialize in, and how the company positions itself and prices its VDR offerings. Accordingly, it is important to choose among the best virtual data room providers considering all features, including pricing.
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