Comparing Virtual Data Room Software
Virtual data rooms are “for all” business solutions. Professionals, small businesses, entrepreneurs, startups, corporations, enterprises, nonprofits, government agencies, and retailers can utilize dataroom software for secure data management and process automation.
Whether a business needs safe and centralized data storage or sharing, uninterrupted communication, project management, online collaboration, or deal-making, a virtual data room has everything it needs.
However, the fact that the VDR market consists of hundreds of data room vendors makes it difficult for professionals or companies to choose the right online data room software for them.
The question is: How do you select a virtual data room? That depends on your requirements, business needs, and budget. However, virtual data rooms are beneficial for almost all types of businesses and are budget-friendly.
What is a VDR?
A virtual data room is a secure digital data management solution commonly used for data sharing and collaboration during M&As and other data-sensitive transactions.
Virtual data room solutions connect dealmakers, companies, and global teams by offering them a fully secure and controlled online space. They not only ensure supreme data protection but also simplify complex processes. However, I would strongly suggest you practice due diligence when choosing a VDR, says Gilbert Waters, Marketing Specialist.
Here is a list if you are looking for the best virtual data room to consider in 2025.
1. Ideals
Headquartered in the United Kingdom with multiple offices in different parts of Europe, Ideals can top the charts any day. Whether it is about data security, deal management, data sharing, contract signing, or due diligence, Ideals virtual data rooms can be trusted with eyes closed.
The company takes pride in serving thousands of financial services professionals, lawyers, and high-level officials from different industries. Ideals virtual data rooms are equally beneficial for small, medium, and large companies. Businesses trust Ideals VDRs for transactions like IPOs, mergers and acquisitions, commercial real estate transactions, and fundraising.
Ideals’ unique customer support system is simply unparalleled in the VDR industry. Not many companies can claim that they truly incorporate customer feedback into their operations, but Ideals can. Ideals can easily boss this section when it comes to ease of use. You can set up an Ideals VDR in 15-20 minutes.
Notable features and characteristics of Ideals data rooms:
· Very easy to set up
· ISO 27001 and SOC2 certified data room vendor
· Secure file viewer
· Custom branding
· Bankruptcy case management
· Available in 14 different global languages
· Automatic notifications via emails
· 24/7 customer support services from industry experts
· Legal forms library
· File drag-n-drop
· Access controls
· Audit logs
Ideals data rooms currently offer three pricing plans and a free trial.
2. Vitrium Security
A very easy-to-use virtual data room that has heaped praise on platforms like Capterra and G2,
Vitrium data rooms are equally handy for professionals and businesses for storing and sharing intellectual properties, patent rights, secret formulae, and other important business documents. They are also widely used by companies for various purposes, including deal management and data management.
Vitrium data rooms are a budget-friendly option for small companies, as the basic plan starts at $500 a month. Moreover, Vitrium has good customer support and can be set up on Mac and Windows.
Here are some notable features and characteristics of Vitrium data rooms:
· Data security
· Drag-n-drop
· Image protection
· High-end security
· PDF protection
· Digital distribution management
· Location control
· Audit trails
· Video/audio protection
· Collaboration tools
· Access expiration management
· Data storage management
3. SecureDocs Data Room
SecureDocs data rooms are the first choice for hundreds of businesses and professionals worldwide. Whether simplifying complex business deals or safely managing confidential corporate documents, SecureDocs data rooms can be trusted easily.
SecureDocs data rooms are globally used for bankruptcy cases, fundraising, due diligence, M&As, and litigation. In 2021, SecureDocs VDRs were declared the “Best Ease of Use virtual data rooms.” The basic plan starts at $250 per month, which is very affordable for small companies.
Here are some notable features and characteristics of SecureDocs:
· Easy to set up (10 minutes)
· Secure file viewer
· Audit logs
· Access permissions
· Documents classification
· Data security
· Data storage management
4. Digify
Another highly praised virtual data room in the business world. If you are looking for a secure and easy-to-use data room to store or share confidential documents with investors, partners, or clients, Digify can be your go-to option.
Globally used for complex transactions like fundraising, litigation, M&As, and other similar transactions, Digify has the following worth-mentioning features;
· Automated watermarking
· Data security
· Secure file viewer
· Audit trails
· Collaboration tools
· Access revocation
· Image protection
· Digital distribution management
· License management
· File drag-n-drop
Things to remember when choosing a data room
· Data room and document security. Look for features like MFA, 256-bit AES (encryption), and granular access permissions.
· Third-party integration and mobile access
· Important certifications like ISO 27001, GDPR, and SOC2
· Customization
· Virtual data room pricing plans
· Free trials or demos
· Customer support service
Summing it up
Choosing the right VDR can be difficult when so many options are available in the market. However, virtual data room providers like Ideals, SecureDocs, and Digify are suitable options for professionals and companies from different business sectors.
