Top Data Room Providers to Satisfy Your Due Diligence

2022-06-27Virtual data rooms are some of the most popular business tools for storing and sharing sensitive data over the past few years. The capabilities of VDRs have evolved significantly since they hit the market, and today they are used for a wide variety of operations. However, the fundamental and most frequent use of the data room is still due diligence and mergers and acquisitions. VDRs offer all the tools necessary to meet the needs of this operation, and in this article, we will highlight some of the best VDR providers for due diligence for 2022.

iDeals Review

VDR iDeals is an industry-leading provider that hasn’t left the top of the rankings for a long time. It is a one-stop platform for due diligence and digital deals. With over ten years in the business, iDeals has provided its customers with an efficient support service, high-quality security, and a strong customer focus based on users’ key needs. The provider holds several trusted security certificates and presents features:

  • Activity tracking
  • Document view time limits
  • Detailed permissions for document interactions – 8 levels of access based on the user’s role in the transaction
  • 256 bit encryption
  • IP addresses restrictions and more

But most importantly, iDeals offers useful tools for effective in-space due diligence, which include:

    • Interactive question-and-answer section
    • Automated tools for simply creating a neat folder structure
    • Dynamic watermarks
    • Individual document checklists
    • Automatic reports on user activity

Merrill Datasite Overview

Merrill Datasite is a solution that specializes in M&A lifecycle support and due diligence. The provider is one of the earliest in the industry and has over 20 years of experience. Its main features are:

      • Efficient document management with bulk upload features
      • Automatic categorization
      • Zip-file support
      • AI-assisted document editing and much more

However, users note that the program’s interface is a bit old.

The security features are a combination of robust and sophisticated hardware and software. In addition, support for the provider is available in 20 languages, and you can contact them any way you want, by phone, chat, or mail.

Since Datasite is focused on mergers and acquisitions, the due diligence process will also go smoothly and efficiently in the space. The provider notes the following features for due diligence:

      • Simple question-and-answer section management
      • Granted rights to individual users and entire groups based on their role
      • Dashboard-style analytics

DealRoom Overview

DealRoom is an advanced virtual data room provider specializing in M&A transactions and due diligence. The platform simplifies the transaction process by centralizing data and tools and offers advanced technology to facilitate due diligence. Thus, the provider provides a simplified interface, project templates, and a comprehensive task manager.

Speaking of data room security, DealRoom offers four levels of document access, the best security certificates, and communication privacy without third-party applications. Provider support is available at any time and in any form. DealRoom VDR is suitable for medium to large companies in various industries. Its due diligence features aim to make the process quicker and easier. The Data Room offers:

      • Support for more than 25 file types and sync formats-you don’t have to convert documents yourself
      • Smart workflow suggestions, such as duplicate documents
      • Real-time request management