The type of project or business process will determine the most suitable virtual data room provider. Top-rated solutions facilitate collaboration between parties and allow file sharing across various platforms, and support a wide range of formats for documents. A great VDR will also come with advanced reporting features and data security. It should be simple to use for both the CFO and the entry-level accountant. It can also offer an option for pricing that is flexible, such as per-storage, per-user, or per-page.
Law firms and legal services companies require a robust virtual data room system that is compliant with strict rules, enables collaboration between lawyers and clients, and offers an encrypted platform for storing and sharing sensitive data. They should be able to track the activity of users and documents, set up customized permission settings, and access reports on the use of data.
Investment banks require a virtual dataroom solution which makes collaboration between teams easier and provides an encrypted platform for high stakes transactions. They must be able manage due diligence, present targets to investors, and assist with the post-transaction integration.
FirmRoom is among the most recent players in the VDR market, however they are already gaining popularity with users such as Pfizer and Baird. The software is clean modern and contemporary design, and an intuitive interface that makes it easy to use. It has a broad range of features that can meet different needs, such security measures such as fence view and remote wiping.