Data sharing and management at the personal and business levels are very different things. Google Drive is a highly used platform for sharing documents, but when it comes to sharing thousands of files, these channels make things complex, and the same is the case with many other free data sharing platforms. Besides, businesses need a tool that can offer something more than simple document sharing.

Due to that reason, businessmen are adopting specialized technologies like virtual data room software. VDR software is developed to manage data storage and sharing in enormous quantities. Also, they give businesses a platform to manage their workforce on a centralized platform. The best part is that a data room suits businesses of all types.

Let’s explore some of the commonly used and most secure dataroom software in the business fraternity. But before that, here is a simple introduction to virtual data rooms.

What is a virtual data room?

A virtual or electronic data room is an online document repository, virtual working space, and a digital deal room used by businesses, professionals, non-profits, and government organizations.

Virtual data rooms are designed to manage data sharing for corporations where thousands of files are shared on a daily basis. Apart from that, Vdr software boasts all necessary communication tools that allow remote teams to work smoothly; they can share documents, arrange important meetings, and give presentations within data rooms.

Similarly, small to large-sized businesses use data room software for managing their transactions with external bodies. They can be routine transactions or unusual deals like capital asset acquisition, fundraising, joint ventures, private equity investments, etc.

Top data rooms for entrepreneurs, corporations, and service providers

Before choosing data room software, it is important to explore multiple options, check out the features, read customer reviews, and compare the prices of vdr providers. Below-mentioned data room providers have been highly acknowledged by the users, business fraternity, and renowned software rating platforms.

1. iDeals Solutions

You will rarely see a list of best data room providers starting without iDeals Solutions. That’s because iDeals has established its supremacy in the industry due to its unmatchable security and next-level customer support.

However, data security and customer support are not the only reasons why iDeals data rooms are so famous. iDeals can cater to the needs of small businesses, medium-sized companies, and enterprises. The company has different pricing plans suitable for differently-sized businesses.

iDeals data rooms are globally used by lawyers, finance professionals, top managers, and enterprise-level companies. These VDRs are very effective in fundraising, M&As, and due diligence.

iDeals VDRs are available in 14 different languages and support all globally used operating systems, including Linux, Mac, Windows, Android, and iOS.

Notable features include bankruptcy case management, legal forms library, bulk upload, content management, secure file viewer, electronic signatures, access permission settings, and audit trails.

2. Ansarada

Ansarada is another great platform for small, medium, and large-scale companies. It is also used by remote workers and freelancers. The company offers very flexible pricing plans according to your requirements.

What makes Ansarada a great asset for your business is smooth and highly secure data sharing. You can set downloading, saving, or printing restrictions on documents and add watermarks. Ansarada is an AI-powered data room that makes document assortment and data analysis a whole lot easier. Another mentionable thing about Ansarada is its compatibility with apps like Dropbox, Google Drive, etc.

Ansarada has exclusive data rooms for M&As, and they can be operated on Windows and Mac.

3. Google Workspace

Just like iDeals and Ansarada, Google Workspace is a highly useful platform for freelancers, remote workers, managers, and different business sizes. Google Workspace mostly focuses on smooth data sharing and online communication.

Using Google Workspace, you can easily set business calendars, work on shared business documents, and hold business meetings via video conferencing tools taking a large number of users on board.

However, Google Workspace is not really suitable for transactions like M&As and due diligence. The best part? Google Workspace has a free version too.

4. SecureDocs

SecureDocs virtual data rooms are highly recommended for SMBs and large-sized companies as well. SecureDocs basic pricing plans start with a flat $250/month fee, and they offer free trials for up to three months. That is why small businesses prefer SecureDocs.

When it comes to functionality, SecureDocs virtual data rooms have all features you need in your data room. Notable features include customizable NDAs, bulk uploads, electronic signatures, access permission settings, two-factor authentication, bulk user invites, etc. It supports Windows, Android, iOS, and Mac.

5. Digify

Digify’s basic plan starts with a flat fee of $96 per month and offers data storage of up to 100GB per user. Digify data rooms are used by small, medium, and large businesses as they provide basic to advance data room features, including file tracking, advanced data encryption, customizable watermarks, print & download permissions, real-time notifications, security presents, access revoke, and document access control.

Digify allows bulk upload from your device, Box, Google Drive, and Dropbox. You can set up Digify data rooms on windows, iOS, Mac, Android, and Linux.

Summing it up

The right virtual data room for your business is the one that can cater to your unique requirements. However, various data room vendors (as mentioned above) provide comprehensive solutions that can fulfill your needs to a great extent. Besides, vdr software’s ability to integrate with external apps and solutions makes sure you have everything you need.

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