For any business looking to do corporate due diligence, choosing the best data room for their needs is essential. With so many options available, how does one know which one is the right choice?

To help, we’ve compiled a list of the top 3 data rooms for due diligence that provide the best combination of security, accessibility, and scalability. Check them out and see which one works best for your business.

The 3 best virtual data room providers

iDeals

iDeals is a modern and user-friendly data room software solution offering various features to suit any business’s needs. Its advanced data room feature allows users to store and share documents in more than 25 distinct file formats for maximum flexibility.

With the strongest security protocols currently available, this solution helps users protect their data from unauthorized online intrusion and keeps communication private. The unparalleled protection offered by this tool is beyond measure in maintaining user information safety and confidentiality.

Key features

• Multi-format support. Instantly upload files in over 25 distinct formats without undergoing complex preparation. Files are then securely converted into PDFs and can be accessed across all Internet browsers, with no extra software needed.

• Bulk uploads. Upload your documents to the data room instantly - with no limits on the size or number of uploads. As soon as you hit ‘upload,’ it’ll be mere moments before they’re processed and ready for use!

• Remote shred. By utilizing document encryption on open and download features, you can ensure that only authorized individuals will gain access to the records. Even after a file has been downloaded, you can revoke its access rights at any time.

• Dynamic watermarks. Keep sensitive documents secure with the ability to automatically add watermarks featuring a user’s name, IP address, and timestamp of when it is viewed, printed, or downloaded. Personalize each document with custom-made watermarks for extra security.

Pricing

iDeals offers three pricing plans with different data room services — Pro, Business, and Enterprise:

• The Pro plan offers one project, five administrators, unlimited users, and flexible storage of up to 10GB.

• The Business plan offers unlimited projects, administrators, users, and flexible storage of up to 250 GB.

• The Enterprise plan offers unlimited projects, administrators, users, preparation period, and flexible storage of up to 1TB.

Every plan has a 30-day trial period with all features enabled. Contact the Support Team to get prices on all plans!

DealRoom

DealRoom is a modern platform that offers a range of features to suit any business’s needs. It has an easy-to-use interface with easy navigation, allowing users to find what they’re looking for quickly.

It also offers high levels of security, including two-factor authentication, encryption protocols, and robust access management. Dealroom also allows users to collaborate with other stakeholders via its chat feature, making it one of the best data room providers.

Key features

• Full-text search. With full-text search, users can quickly and easily find information or documents based on keywords or phrases. It includes searching for keywords within individual documents.

• Cutting-edge machine learning. Using cutting-edge machine learning, this electronic data room can accurately provide associated responses and documents for repeated requests.

• Bulk uploads. With drag-and-drop upload, users can effortlessly and securely upload documents, files, and folders in bulk. Every file is then indexed automatically with permission settings to control who can view, download, or print the materials.

• Ability to track diligence process. Tracking diligence progress over time is simple and effective, enabling users to monitor any requests labeled as high priority or risk easily.

Pricing

DealRoom offers four pricing plans with different data room services — Pipeline, Single Project, Professional, and Enterprise.

• The Pipeline plan ($1,000/month) offers unlimited projects, users, and 1 GB of data and file storage.

• The Single Project plan ($1,2500/month) provides one project and unlimited users, with 5 GB of data and file storage. Its additional functions include project management features, external stakeholder coordination, and diligence management.

• The Professional plan (custom price) offers all the Pipeline and Single Project plans features, 20 GB of file and data storage, plus additional ones. These include BI reporting, private team rooms for collaboration, version control for tracking changes and approvals, and AI-driven data room analytics.

• Finally, the Enterprise plan (custom price) provides all the features of the Professional Plan but with 50 GB of file and data storage. It also comes with exclusive features, such as custom integrations with third-party software, advanced analytics and insights, a dedicated customer success manager, and custom onboarding.

Intralinks

Intralinks is another popular option for corporate due diligence data rooms. This online data room software has all the security measures you’d expect from a leading provider such as two-factor authentication and encryption protocols but also includes advanced features like workflow automation to streamline processes such as document reviews or approvals.

Key features

• Secure file sharing. Intralinks offers secure file sharing and collaboration, allowing users to control who can access documents and when.

• Workflow automation. Streamline document reviews and approvals with automated workflow features, saving time and energy.

• Data room analytics. Get insights into user activities in the virtual data room with AI-driven analytics.

• Mobile sharing. Seamlessly access and share documents from any device, even when on the go.

• Team collaboration: You have the power to collaborate with anyone, whether they are inside or outside of your company’s firewall. Exchange documents effortlessly and track changes in each version's history!

Pricing

Intralinks provides an unparalleled opportunity to experience the power of its product with a complimentary 30-day trial. To learn more or receive additional pricing information, please don’t hesitate to reach out and contact Intralinks today!

Bottom line

With so many virtual data room providers available today, finding the right one for your corporate due diligence needs can be overwhelming. However, by comparing features such as security measures, ease of use, and pricing between different providers, you can decide which one will best fit your company’s requirements.

In this article, we looked at three of the top data room vendors — iDeals, DealRoom, and Intralinks — all of which offer robust solutions tailored towards corporate due diligence needs with competitive pricing structures too!

So, check these virtual data rooms and choose the one that best suits your unique requirements!