Virtual Data Room Service Providers Companies, 5 Best Virtual Data Rooms Solutions

Virtual data room

Virtual data room (sometimes called VDR or Transaction Room) is a warehouse to describe important information online that is used to store and distribute documents.

Secure virtual data space has the advantage of facilitating due diligence during M&A transactions (virtual data room for m&a), loan syndication, or private equity and venture capital transactions.

Virtual Data rooms (VDR) have many more impressive features to show this due diligence process traditionally using physical data room to complete document disclosures.

For reasons of cost, efficiency and security, virtual data room has replaced much more traditional physical data room. Virtual data room is an extranet that can be accessed by bidders and advisors via the internet.

Extranet is basically a website with limited controlled access, using secure log-on provided by the vendor, which can be deactivated at any time, by the vendor, if the bidder is attractive.

Most of the information released is confidential and restrictions are applied to the ability of viewers to release this to third parties (by way of forwarding, copying or printing).

This can be effectively applied to protect data using digital rights management. Virtual data room provides access to secure documents for authorized users through a special website, or through a secure agent application.

In the process of mergers and acquisitions, the data space is arranged as part of the data storage center relating to the company or division that is acquired or sold.

Data space allows interested parties to view information related to business in a controlled environment where confidentiality can be maintained.

Conventionally this is achieved by building physical data room that is monitored in a safe place with controlled access. In most cases, with physical data space, only one bidder team can access the room at once.

Virtual data room is designed to have the same advantages as conventional data space (controlling access, viewing, copying, and printing, etc.) with fewer losses.

Because of their increased efficiency, many businesses and industries have switched to using virtual data room rather than physical data room. In 2006, a company spokesman who made space for a virtual agreement reportedly claimed that the process reduced the bidding process by about thirty days compared to physical data room.

Virtual data room for business

In today's business environment, virtual data room (RDV) becomes a revolution in the transaction process.

The main reason why companies switch to RDV rather than other data spaces is 24/7/365 fast access from anywhere and from any device that is connected to the Internet, secure data storage and storage, and significant time and money savings in making transactions confidential for business purposes.

In addition, online version transactions help to avoid many mistakes and risks, which reduces the likelihood that the transaction will pass not as previously planned.

At present, RDV has become a safe place for meetings on the network for all parties involved in the transaction.

By providing full control during online procedures to verify the health of the company's financial condition, this secure online data repository simplifies collaboration between all parties.

Virtual data space has been modified to be an instrument that facilitates all transactions, and not only to conduct due diligence on the financial condition of the company. In addition to absorption and incorporation, virtual data room software is widely used for transactions such as credit syndication, private equity and venture capital loans.

Usually, virtual data room is widely used in many economic sectors, including the following: Biotechnology, Business broker, Accounting, Bank activities related to investment, Credit consultant, Property, Energetics, Lawyer, Government, Consulting services, Media, Pharmacy, Business capital investment, Production, IT and telecommunications, Health, and financial consultant.

As a result online data room providers appear on the market almost every day. Many of them offer similar services such as secure data storage, data management and shared data usage.

Other functions can vary significantly. The best virtual data space provides security such as at the military system level, multilingual support, full text search, document layout and various other functions.

Virtual Data Room Providers

The following is a list of virtual data room service providers companies:

1. Virtual Data Room IDeals

Virtual Data Room IDeals
IDeals Virtual Data Room is a great RDV version with all the functions you can expect from the industry's leading virtual data space provider. The focus is to facilitate financial verification of companies in any industry, including absorption and incorporation, property, biotechnology and technology.

Eight settings for user access rights can be applied to individuals or groups, and users can be given profile permissions that allow them to access certain files and folders. All user activity is tracked and marked with a time stamp and available in the audit log. 256-bit encryption, automatic watermarks, antivirus protection and many other security measures ensure maximum protection of confidential data.

Unlike many providers that require users to download plug-ins or other software, such as Flash or Java, iDeals can work evenly across all browsers, operating systems and tools without installing plug-ins. Full compatibility with cellular devices is provided by special applications for iOS and Windows.

Safe, strong, flexible, but intuitive based on excellent user interaction and 24/7/365 multilingual customer service, iDeals RDV platform is available both as a web service and can be integrated with existing company infrastructure.

The free trial version allows you to personally evaluate all the benefits of this virtual space data.

Product Details Virtual Data Room IDeals

  1. Virtual Data Room Free Version: Yes
  2. Free Trial: 60 Days Free
  3. Deployment: Installed, Mobile, Web Based
  4. Training: Documentation, Webinars, Live Online, In Person
  5. Support: Online, Business Hours, 24/7 (Live Rep)

Virtual Data Rooms Plans and Pricing

  • Basic: Simple, secure document sharing for small projects. Self-service. Email support. No customization.
  • Pro: Professional data room for small and mid-size projects. Phone & email support. Standard customization.
  • Business: Advanced data room for mid-size and large projects. Dedicated premier support. Full —Āustomization.

2. Virtual Data Room Intralinks Dealspace

Intralinks is a pioneer in the virtual data space market, which is focused on simplifying the process of verifying the health of the company's financial condition. The data room contains an indexing template for easy document uploading and a separate platform for exchanging documents while checking the health of the company's financial condition.

Special applications support access from cellular devices. Cellular users like the same functions they need to manage every aspect of the transaction, including uploading files and managing users. Data space provides protection for PDF documents and Office documents, as well as integration with Microsoft Office.

Useful and easy-to-use interfaces minimize obstacles in the learning process for new users. Consultation, additional training and 24-hour support services make Intralinks the ideal choice for large companies with the task of storing and managing complex data (and to be on budget).

Intralinks is a provider of global technology for content management and safe collaboration. Intralinks, founded in 1996, allows exchange, control and management of information between organizations using a company's virtual data space and is a solution that provides space for transactions, suitable for sharing data on both sides of a corporate firewall. VIA Intralinks main products were created for strategic collaboration for a number of industries, including financial services, biomedical sciences, technology and manufacturing.

3. Virtual Data Room Merrill DataSite

Merrill Corporation has made Merrill DataSite to exchange confidential information securely during financial transactions and other transactions, prioritizing privacy and security.

This virtual data space has ISO 27001 certification, specialized service experts and a list of main functions: watermarks, permits, access controls and audit logs. Companies are very concerned about security measures, but in terms of technology there are still many things that need to be improved. For example, DataSite is not accessible from cellular devices, which is important for many business users.

All this makes Merrill DataSite convenient for users, Merrill DataSite is equipped with many features and guaranteed security with prices focused on the luxury and good market segments.

Merrill DataSite is a powerful data sharing solution that simplifies verification of the company's financial health in mergers and absorption, resignation, stock public offering or any transaction that requires verification of the company's financial health. This Merrill DataSite function allows customers to make transactions faster, smarter and better. Learning through presenting documents in the data room how Merrill DataSite significantly reduces transaction time and costs associated with transactions.

4. Virtual Data Room Brainloop Secure Dataroom

Brainloop is one of the leading virtual data space providers. This multi-purpose document storage is used to absorb and combine, build funds, bankruptcy, litigation and other transactions. The main advantage of this provider of virtual data space is that data security and management are handled as completely as possible. Security measures consist of encryption, watermarks and anti-virus scanning and two-level authentication using a password and a special PIN issued for each access.

Advanced technology features, including "Questions and Answers", cellular access and permission systems, allow users to easily share, manage and work with the most valuable company information. These characteristics make the Brainloop RDV a valuable investment for companies both small and large because these providers offer integration with existing enterprise infrastructure (options for larger companies) or more economical cloud repository creation from documents with Internet access.

Brainloop Secure Dataroom is a sophisticated virtual workspace with a complete security architecture, 24/7 global availability through a dedicated web browser and tablet application. Brainloop provides safe interaction in an online workspace that is protected transparently, providing comprehensive protection for confidential documents. Find out why companies around the world use Brainloop as a communication system for board directors, research and development, legal work, and in other fields where you need to share confidential documents.

5. Virtual Data Room SmartRoom VDR

SmartRoom provides virtual space data services for many fields of business activities such as capital markets, law, foreign currency transactions. Secure hosting and shared use of documents by partners, easy confidential company information management, confidential discussion of data directly on the platform, all of these functions are attractive for transaction organizers (investment bankers, private equity fund managers, etc.).

All of this forces them to look for the safest, most efficient, functional and comfortable RDV. SmartRoom is one of the most authorized providers and in addition offers a reasonable pricing policy for the services provided.

Protected by complex security systems (dynamic watermarks, anti-virus scanning, data encryption and backup, two-level user verification, routine audit reports and digital rights management), SmartRoom is involved in thousands of different transactions and manages transactions of more than $ 525 billion.

This cloud platform has a simple and intuitive interface, available in nine languages ​​and equipped with a broad search function, the option to embed references in documents, question and answer sections, and customized websites according to the site's client requirements that contain all logos, and are designed with company color.

The list of incomplete processes that were successfully followed by SmartRoom included: general mergers and acquisitions and verification of the health of the company's financial condition, specifically integration after merger, safe joint work, fund development and restructuring, court payments and analysis of medical records.

To make RDV efficient and convenient for projects, each transaction is supported by a special project manager and a qualified team that works 24 hours / 7 days per week and without holidays.

SmartRoom provides virtual space data services for many fields of industrial and economic activities such as capital markets, law, foreign currency transactions. Secure hosting and shared use of documents by partners, convenient management of confidential company information, confidential discussions about data directly on the platform.
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How does a virtual data room work? What is a virtual data room? Tips for setting up a virtual data room

A data room or virtual data room is an online archive with excellent security measures in which documents can be stored. It can be used to store confidential documents, such as those related to financial transactions, insurance documents, patents and other due diligence documents. All important documents for the company and the operation of the business are stored in a VDR. Currently, virtual data rooms are increasingly used in the case of:

Banks, insurance companies and other financial institutions.

Lawyers, advisors and accounting firms.

Real estate mediation and marketing companies.

Large and small companies that want to share confidential documents with their workers, collaborators or clients.

Virtual data room : security is crucial

The most important benefits of VDR are security and centralized availability. We list them:

Advanced multi-level authentication procedures that prevent hackers from accessing documents.

Advanced encryption for data transfer and storage.

Document security. Access rights that can be set at the document level and define who is authorized to perform specific actions.

Efficiency: Everything is in one centralized location that can be accessed 24/7 from anywhere.

Document Management: Modifications to documents, as well as author, change made, and time stamp, are recorded and reported.

Exchange of information in the VDR

It is possible to share the documents that are in the VDR with people who work in the company and with external personnel. The administrator is in charge of establishing which documents can be shared and with whom. It also defines if you have access rights, such as the permissions that allow you to read a document, modify it, upload it, download it, etc. It is very useful for managers and employees when working in the cloud, but also for customers. For example, they can view their own contracts and delivery terms.

Temporary virtual data room

A virtual data room does not have to be set up indefinitely. It is possible to temporarily rent a data room, for example in the case of special projects, contract negotiations with large clients or during audits. It saves costs related to moving and hosting documents and each party can directly share documents, modify them and negotiate in complete confidentiality. Combined with web conferencing software, the possibilities are endless.

Differences between VDR and cloud storage

Nowadays everyone uses cloud storage (free). For example, the best known are OneDrive, Dropbox, Google Drive or iCloud. The three main differences between generic cloud storage software and VDRs are:

1. The VDRs are the ones that offer the greatest security measures. The chances of accessing data traffic and stealing it are (almost) nil. Advanced encryption and bit keys are used during data transfer and storage. Only authorized people can read the files. All of these protection measures are not available in cloud storage.

2. VDRs contain documentation management software. All actions carried out on a document are recorded and communicated.

Steps to set up a virtual data room

The first step in setting up a virtual data room is to take an inventory of the data that you want to move into the data room. Doing so gives you an overview of how big the data room should be. Next, you need to start looking for a provider. In addition to the price, other aspects must be taken into account:

Security. Choose a provider that has a high level of encryption, at least a two-step authentication procedure.

Document management and control. What functionality does the VDR offer? What are the options you provide for recording authorizations for people and documents? What reporting capabilities does it provide?

Ease of use and accessibility. Is it possible to access from a smartphone or a tablet? What happens when there are several users trying to work with the same documents at the same time?

Assistance. 24/7 support is often helpful when the company works internationally.

What is a virtual data room? Is Dropbox A virtual data room?

Have you been researching and checking on Google what could be a virtual data room? Is that software? Is that something you need to buy? What is it for? do not fear With this quick overview, we try to answer your questions. Let's jump right into that.

A virtual data room, or VDR for short, is a place on the Internet where users can store and share documents. From the feel of the term, one might think that it is something new related to file sharing in the cloud, and while that might be the case, the term data room is much older than the cloud computing hype.

Who uses virtual data rooms and why?

So what do you use a virtual data room for? You can often find people and companies involved in eDiscovery, M&A (mergers and acquisitions), and VC ( venture capital ) using virtual data rooms to put all their data and files in one place for review, archiving, and legal certainty.

Some people also refer to this as "the deal room." In addition, board members of large companies also often use virtual data rooms to collaborate in a secure environment.

All this does not usually happen in the same network since the parties come from different companies. You could say that a virtual data room is a kind of extranet, so it's not public and you don't just run it inside your own company like an intranet would. The use of virtual data rooms is done primarily for governance and compliance purposes, not for the sake of a better user collaboration experience.

Virtual data room vs. Dropbox and others

Okay, got it, but why don't we just use all the popular cloud file sharing providers? Have you ever received an email that contained something like "I uploaded the contract to our shared Dropbox drive"? I hope not.

A strong differentiator here is InfoSec and overall digital security, encryption and protection with a full audit trail. The actual features, of course, vary depending on the virtual data room provider you choose and the type of plan you pay for.

Here are some of the features you may need:

Data encryption
Audit log and activity tracking
Digital Rights Management
Access Management
Online document viewer (in browser)
Bulk upload, drag and drop
As much file storage space as you need
Usage Features Adapt to Your Use Case
Protection against external threats

Who are the best virtual data room providers?

I'd love to offer you a go-to company now, but often there isn't one software solution that's right for everyone. Depending on your budget, feature requirements, due diligence requirements, business requirements, legal requirements, and all your partner requirements, you should carefully research and compare the VDR solution and digital meeting room providers out there.

I'm not endorsing any of the following in particular, but if you want to start your research from here, I recommend checking out the following companies and products, which are listed alphabetically:

BlackBerry Workspaces (WatchDox)
Brainloop Secure Data Room
Citrix ShareFile Virtual Data Room
Drooms NXG Virtual Data Room
Intralinks Virtual Data Room
Merrill DatasiteOne
Nasdaq Boardvantage
Safe-T Software Defined Access Package
SecureDocs Virtual Data Room

Certainly, there may be other good ones as well, but these are a good starting point for your comparison and review. It is also worth noting that you should look for "local" providers or at least choose a global one that understands the legal requirements of all the nations involved in the deal and the respective laws.

What is a data center or data processing center?

A data center or a data processing center (CPD) is the physical location where the necessary computing resources of an organization or service provider are concentrated. It is also known as "Internet Data Center" (IDC), computing center in Latin America.

The terms “data center” and “data processing center” are being heard more and more, thanks to the role they play in many of our daily activities. Much of the data we receive and send through our mobiles, tablets and computers ends up stored in these data centers; in what many call, generically, "the cloud".

Private rooms and technical rooms of the data center

A data center has spaces for exclusive use where companies maintain and operate their IT infrastructures.

Servers and storage systems can be housed in these spaces to run the applications that process and store company data.

Some companies have a cage or one or more racks (racks). Others may even have private rooms to house a certain number of rack cabinets. The space will depend on the size of the company.

The data center provides a technical space that is prepared with a false floor. Below this false floor, the electrical outlets are installed to connect the racks.

Therefore, everything must be carefully controlled and protected. To do this, large data centers implement numerous security mechanisms: electrical power systems, backup power, cooling, cabling, fire detection and suppression, water leak detectors and security controls.

Data center monitoring and management

Modern data centers are really complex from a technological point of view and require constant management and monitoring in order to operate safely and efficiently. That is why business continuity and energy efficiency are critical aspects in data center management, as we explain later in the article.

For example, maintaining correct temperature and humidity parameters is essential to ensure proper function and operational integrity of hosted systems.

Virtual data centers

A virtual data center is a data center architecture that eliminates many of the challenges of traditional data centers. Virtual data centers increase IT agility and reduce complexity and costs. They are also known as private clouds, Cloud Data Centers, or software-defined data centers.

A single physical data center can host multiple virtual data centers. Each cloud data center is completely independent, which ensures maximum security, high availability and flexibility. Abstracting the physical data center through virtualization enables service providers to be more competitive and provide compute, storage, and network resources as a service to their customers.

Efficiency measures in data centers

Leading data centers are constantly working on improving their energy efficiency. Since sustainability is one of the great challenges of the industry today.

In this sense, the use of physical hardware is much more optimized in large data centers than in traditional data centers housed in the companies' own facilities. However, as the need for more complex and faster computing services increases, so does the need to reduce the footprint of data centers. Here are some of the energy efficiency measures data centers are taking to reduce their carbon footprint :

Modernize refrigeration systems.

Adopt the method of free-cooling or free cooling, which consists of using low outside temperatures to cool the facilities of a data center.

Opt for natural refrigerants, such as water (R718) or ammonia (R717) —which do not damage the ozone layer.

Implement physical barriers to prevent air from cold aisles from mixing with air from hot aisles.

Use Artificial Intelligence to predict energy consumption, optimize cooling systems and thus improve PUE values.

Increase the cooling temperature in data centers to reduce energy consumption and extend the useful life of systems.

Recover and reuse excess heat from data centers to heat nearby homes, offices and schools.

Give priority to the use of 100% renewable and clean energies.