The Top 5 Leading VDR Service Providers in 2022
The popularity of virtual data rooms is growing with every passing day, Check out the top leading VDR service providers from this year.
The popularity of virtual data rooms is growing with every passing day. Businesses of all types are switching to digital platforms like online data room software. As the demand grows, new players are stepping into the virtual data room industry. It should be a good sign as healthy market competition is good for consumers and service providers. Check out the top leading VDR (Virtual Data Room) service providers, the best from this year.
However, it is also important to note that every virtual data room provider doesn’t provide the same level of utility and security. Many data room services are not even certified by the international or regional governing body. It leaves consumers in a state of confusion as to which data room provider should be trusted.
In fact, considering so many options in the market, the data room selection process also becomes trickier and more confusing. Here is a list of some of the best data rooms in 2022 and important things to consider when choosing virtual data room software.
Top 5 Data Room Services In 2022
It is important to note that the below-mentioned data rooms are selected on the basis of customer reviews and their overall reputation in the market for the leading VDR service providers.
1. iDeals virtual data rooms
The current global virtual data room industry has already hit the $2-billion figure, and iDeals is amongst the major contributors.
iDeals Solutions deal in different business products, including virtual data rooms and board portal software. The company has pioneered the data room industry and is globally known for two major reasons — robust cybersecurity and imperial customer support service.
iDeals data rooms are more famous in the healthcare sector, law industry, M&As, auditors, and investment banking. Top corporate officials, managers, and directors also use iDeals data rooms for data storage, sharing, regulatory compliance, and communication.
The following features differentiate iDeals from its competitors and one of the leading VDR service providers:
- Multilingual interface supporting 16 common international languages
- Support of every global operating system, including Windows, Linux, Mac, iOS, Android, and web-based deployment
- 24/7/365 customer support
- Free trials and three flexible pricing plans
CapLinked also makes it to the list of virtual data room industry leaders. The company not only provides secure and smooth data management but offers customized solutions to SMEs and enterprises. CapLinked has an extended product line that includes an API with private keys for developers.
Just like iDeals, CapLinked also allows multi-device access, and you can use any browser to access your CapLinked data room. What’s more, the data room also boasts communication tools, minimizing the need for external apps.
CapLinked is highly safe for sharing sensitive information with third parties. That is why it is regularly used in asset trading, licensing, M&As, and fundraising. CapLinked provides free trials, and the basic pricing plan starts at $299 a month.
The Ansarada is another value-added data management platform with 15 years of experience in corporate information management. Moreover, Ansarada has been part of many international M&A transactions worth over $1 trillion. Ansarada data rooms are useful in procurement and board communication and help run GRC processes smoothly.
Ansarada’s primary clientele includes deal advisors, private equities, SMBs, regulators, auditors, and enterprises. However, it only supports Mac, Windows, web-based, and on-premise deployment. The company enjoys overall 4.6 ratings on Capterra. Their basic pricing starts from $499 a month, and they have a free version.
4. DealRoom Leading VDR Service Providers
DealRoom has made an unparalleled reputation in the M&A industry. The company primarily targets large-scale transactions like mergers, acquisitions, fundraising, corporate development, joint ventures, etc.
DealRoom’s data analytics and supremely secure centralized data management tools make it a top choice for sensitive documentation. Also, DealRoom is 40% faster than many of its competitors.
DealRoom mostly serves the corporate sector and banks; their basic pricing plan starts from $1250 a month.
5. Firmex virtual data room: Leading VDR service providers
Firmex data rooms are highly associated with due diligence, compliance, and deal-making. Moreover, Firmex opens more than 20,000 data rooms for its clients, including SMEs, enterprises, private equities, and the corporate sector.
Firmex is also known for various reasons, including:
- Multiple pricing models according to customers’ ease
- SO, HIPAA, GDPR, and SOC2 compliance
Finally, it has also won several Capterra awards, including Top Performer in 2022.
How To Choose A Virtual Data Room?
The following elements should be a part of any data room selection process:
- Need identification. Determine why you need data room software.
- Budget allocation. Decide how much you can spend on a data room.
- Identification of required features. Make sure the VDR has all basic security and communication features
- Virtual data room comparison. Compare virtual data rooms based on ease of use, customer support, user intuitiveness, and speed.
- Virtual data room provider analysis. Analyze pros, cons, and specific characteristics of each provider based on their customer reviews.
- Free trials. Request free trials of the shortlisted providers and decide which of them is the most suitable in terms of UI and UX.
Leading VDR Service Providers: Final Words
The virtual data room industry is becoming more saturated every year. Following are the top 5 leading virtual data room providers:
To choose the best-fitting electronic data room, consider your need identification, budget allocation, and identification of the features you mostly need. Then, conduct a data room comparison and analysis of customer feedback, request free trials of the most suitable solutions, and choose the one that meets all your needs.