Virtual Data Room Software

Explore the list of the best virtual data room software to store and distribute business sensitive information with confidence and compliance.

Security breaches or inappropriate sharing of documents is familiar with the traditional physical data rooms. To preserve confidentiality and share valuable information in a controlled manner, businesses should opt for a Virtual data room that can be an online warehouse of business-sensitive documents. Typically, a virtual data room software can help organizations create a secure data repository and share confidential information securely, with authorized access.

What Is Virtual Data Room Software?

A virtual data room software, also known as VDR software is an application that allows creating a highly secure online data room for storing and distributing confidential documents and files. It enables you to build a controlled environment using two-factor authentication, password encryption, and strict sign-in controls. Using virtual data software, you can host confidential information in a secure environment and control access with limited permissions to copy, print, and share the documents. This helps establish a secure data-sharing environment in the organization and eliminates data leakage and breaching chances. Businesses use the virtual data room software because of the below-mentioned benefits it offers -

  • Enables convenient sharing of data to pre-approved individuals without compromising the security
  • Allows you to set up the security methods like encryption, sign-in controls, and two-factor authentication as per your preferences
  • Facilitates you to distribute the data in different compartments, making it easier for the authorized users to access
  • Enables controlling the data and its security from a remote location

How To Find The Best Virtual Data Room Software?

Finding the best virtual data room software without any assistance can be difficult, especially when there are so many premier virtual data room providers available. To make your search process easier, GoodFirms has come up with the list of the best virtual data room software in terms of security and technology. Just go through the list, and use the filters to narrow down the virtual data room systems as per your requirements. In-depth details and authentic users’ reviews about each software would further help you in making the right purchase decision that you would never regret in the future.

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List of The Virtual Data Room Providers

  • DealRoom

    Agile M&A Project Management Software.
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    DealRoomDealRoom is an M&A lifecycle management software designed for collaboration and responsiveness. The platform combines a secure virtual data room with communication and project management tools, reducing the time spent on due diligence by 25-40%. Within DealRoom, all due diligence operations take place in a secure, easy-to-use web-based platform. Requests are directly linked to documents, e... learn more about DealRoom

    Entry Level Price
    $1000 per Month
    Free Trial
    14 days
    50%

    Category Focus

    Virtual Data Room Software
  • FirmRoom

    The World's Most Intuitive Virtual Data Room.
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    FirmRoom features a full suite of state-of-the-art built-in tools & capabilities. Our VDR is trusted by professionals all over the world. We not only meet industry security standards, but go above & beyond to protect your documents. Never worry about who can see what again. Easily transform, retrieve, & classify documents & folders on our smart platform. Features such as drag and drop, bulk upload... learn more about FirmRoom

    Entry Level Price
    $500 per Month
    Free Trial
    14 days
    50%

    Category Focus

    Virtual Data Room Software
  • Cryptacomm

    Safe and Secure Document Collaboration
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    Cryptacomm is a highly secure solution for confidential transactions that facilitates easy communication among relevant parties, enabling users to internally discuss, share, edit, assign, and track progress on documents and tasks related to due diligence, contract negotiations, mergers and acquisitions, and other key business activities. This simple and safe file sharing and collaboration solution... learn more about Cryptacomm

    Entry Level Price
    Contact Vendor
    Free Trial
    45 days
    50%

    Category Focus

    Virtual Data Room Software
  • DocRAID

    EXCHANGE FILES, SECURELY AND EASILY
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    DocRAID is the pioneer in CloudRAID technology, 100% zero-knowledge backup and file sync, secure file exchange, and easy to use email encryption. Off-Premise in our data centers or on-premise (self-hosted) in your data center.... learn more about DocRAID

    Entry Level Price
    $10 per Month
    Free Trial
    30 days
    33%

    Category Focus

    Virtual Data Room Software
  • Citrix ShareFile

    ShareFile for Small or Medium Business
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    Take productivity to the next level with ShareFile. Securely send, share, get feedback, approvals and even e-signatures on any file, fast. Citrix ShareFile is the secure file sharing and storage solution built for business. Featuring state-of-the-art, compliance-supporting security and proven secure infrastructure, it offers a custom-branded, password-protected online portal with unlimited file st... learn more about Citrix ShareFile

    Entry Level Price
    $16 per Month
    Free Trial
    30 days
    33%

    Category Focus

    Virtual Data Room Software
  • Digify

    Document security made simple
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    Digify allows companies to protect and keep control of confidential documents. It is a cloud-based document security service with built-in encryption, digital rights management, file tracking and virtual data room capabilities. Digify is the winner of multiple international awards including the leading security competition RSA Innovation Sandbox. Digify offers secure virtual data rooms that are ea... learn more about Digify

    Entry Level Price
    $99 per Month
    Free Trial
    7 days
    33%

    Category Focus

    Virtual Data Room Software
  • Clinked

    White-label client portal for business.
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    Clinked helps teams & businesses work more efficiently together in the cloud. We are based in Cambridge (UK), where management, engineering, marketing and customer support take place. Secure, Branded, Mobile. Deliver your clients & client-facing teams the secure touch of a white-label branded platform & mobile application today. Our philosophy is to make team collaboration simple, secure and socia... learn more about Clinked

    Entry Level Price
    $83 per Month
    Free Trial
    10 days
    20%

    Category Focus

    Virtual Data Room Software
  • FOLDERIT

    Cloud Document Management System Software for SMBs
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    Keeping your paperless office documents only on your computer or local server poses the risks of hard drive failure, fire, flood or burglary. And what if you want to access one of those important files away from the office? Meet Folderit. The ultimate online document management system for small businesses and organizations, the most user-friendly DMS in the world! We didn’t bulk it up with featu... learn more about FOLDERIT

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Virtual Data Room Software
  • HighQ

    Discover an intelligent legal work platform
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    Transform the way you work and engage with clients and colleagues using HighQ’s integrated digital workspace that combines automated workflows, document automation and secure collaboration. Powerful core features to get your work done faster. Even the base HighQ package can transform the way you and your team work. Keep your data secure with single sign-on, granular permissions, activity trackin... learn more about HighQ

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Virtual Data Room Software
  • idgard

    EFFICIENT COLLABORATION DONE AT THE HIGHEST LEVEL OF DATA PROTECTION
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    idgard is the ideal solution for secure electronic data exchange-whether internally or beyond the organizational boundaries. Companies often need to send confidential data to external parties. With idgard®, this file exchange takes place online via the highly secure sealed cloud-the highest security level currently available for online data exchange and collaboration. Even large files (e.g. CAD f... learn more about idgard

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Virtual Data Room Software
  • Foleo

    Intelligent deal distribution platform built for investment agents
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    Foleo is an intelligent document portal specifically designed for property consultants. In just a few clicks, you can distribute deal files to all investors, and our unique algorithm tells you who is interested and who is not. It's fully branded and fits right in alongside your website and other marketing material. With each investment deal there can be hundreds of documents and buyers. Teams are ... learn more about Foleo

    Entry Level Price
    $200 per Month
    Free Trial
    N/A
    50%

    Category Focus

    Virtual Data Room Software
  • iDeals Virtual Data Room

    Secure Your Success With Trusted Virtual Data Room
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    We keep things simple, but powerful and secure to cover your needs. The virtual data room is opened within several minutes and requires just a few clicks to start a project. Multiple certified (ISO 27001, SOC2) datacentres that employ physical, virtual and penetration security. Control access to the data in the room with 8+ levels of permissions that can be revoked at any time (DRM/IRM). The data ... learn more about iDeals Virtual Data Room

    Entry Level Price
    Contact Vendor
    Free Trial
    30 days
    100%

    Category Focus

    Virtual Data Room Software
  • As businesses of all sizes have moved away from a heavy reliance upon physical documents and embraced digital solutions that improve the way a company operates, virtual data rooms (VDRs) have emerged as a common solution for storing and sharing sensitive corporate information. Virtual data rooms are secure online repositories that give users the ability to precisely control who can access certain ... learn more about SecureDocs Virtual Data Room

    Entry Level Price
    $250 per Month
    Free Trial
    14 days
    100%

    Category Focus

    Virtual Data Room Software
  • Aversure Data Room Service

    Lets you focus on executing the transaction
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    The Aversure Data Room Service is a sophisticated easy-to-use virtual data room solution targeted towards transactions and fund reporting. The service combines advanced security features with a clear focus on user-friendliness. Files and folders are structured in an intuitive interface, similar to the file browser on most computers. The Aversure Data Room Service runs directly in a web browser on ... learn more about Aversure Data Room Service

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • SANsymphony

    Software-Defined Storage for Any SAN, DAS, and HCI Environment
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    Maximize the collective value from your storage infrastructure by delivering fast, uninterrupted data access, while reducing storage costs and increasing flexibility and scalability. DataCore SANsymphony enables you to centrally automate and manage capacity provisioning and data placement across your diverse storage environment (any SAN, DAS, HCI, or JBOD). Powered by a block-level storage virtual... learn more about SANsymphony

    Entry Level Price
    Contact Vendor
    Free Trial
    Available
    100%

    Category Focus

    Virtual Data Room Software
  • idrShare

    Virtual and SharePoint Data Rooms Providers
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    idrShare provides customized data room templates to fit your data room needs. Customizable VDRs with document permissions, industry leading bulk document transfer moves 1,000s of documents and GBs of data from desktop to site or vice versa, Microsoft SharePoint platform, email notifications, and user-based access control. Super flexible price structures to fit every client. idrShare provides one f... learn more about idrShare

    Entry Level Price
    $250 per Month
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Document Vault

    Secure Virtual Data Rooms for Mergers and Acquisitions
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    Document Vault Systems specialise in secure virtual data room solutions. Our clients include law firms, investment brokers, insurance companies, property companies (real estate), oil and gas firms, mining companies, solar energy companies, together with public sector organisations. If you are looking for a secure virtual data room for your M&A transaction or you are looking for a system to manage ... learn more about Document Vault

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Multipartner VDR

    CONTROL OVER DATA AND DOCUMENTS.
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    Multipartner Virtual Data Room is a web-based platform with extremely high control standards on documents and data, to manage, share and exchange confidential information, keeping track of every user’s actions. Multipartner VDR is modular, scalable, multimedia and entirely developed by our development team. Multilingual and highly customizable. Choose based on the features, storage space and dur... learn more about Multipartner VDR

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Ruby Datum

    A smarter, faster approach to Virtual Data Rooms.
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    Ruby Datum is a secure virtual data room platform which places the user experience first with a fresh, innovative approach to features that has won support of leading innovators such as Mishcon de Reya, Quantuma, Crowdcube and many more. Highly regarded as one of the fastest and intuitive platforms on the market, Ruby Datum offers a highly customisable, brandable interface for document collabor... learn more about Ruby Datum

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Sterling Data Rooms

    A SIGNIFICANTLY BETTER DATA ROOM SERVICE
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    Sterling data rooms help deal-makers share the right documents, with the right people, during important transactions. It might sound simple, but it takes more than just technology to do it properly. That's why every Sterling data room comes with 24/7 support based in London, and a dedicated Relationship Manager who'll look after you every step of the way. Whether you need a huge index update, a mi... learn more about Sterling Data Rooms

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Data Rooms have been used for decades as part of the Mergers and Acquisitions process and in recent years the trend has moved towards online hosted facilities called a Virtual Data Room. The need to establish a physical data room often creates issues relating to premises, access and supervision. Confidentiality is paramount and strict controls for viewing, copying and printing must be imposed. The... learn more about ADEC Preview VDR

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Advisor Transitions

    Transform the Transition Process with Automated Workflows and Hands-on Service
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    Docupace’s financial advisor transitions process is designed to assist with adherence to the relevant FINRA rules and SEC regulations surrounding the incoming advisor. Maintaining segregation of information until the date of registration is paramount, along with other controls, enables the intaking firm and the incoming financial advisor a well-documented, faster transition. Docupace carefully s... learn more about Advisor Transitions

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • DataRooms.com

    OUR VIRTUAL DATA ROOMS ARE SIMPLY, REMARKABLY, BETTER
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    Leading corporations and professional firms worldwide trust DataRooms.com with their most critical due diligence and secure information exchange needs. Our clients count on us for a powerful combination of intuitive technology, tamperproof security and sensible pricing—all backed by around-the-clock, personalized support. DataRooms.com started with a simple goal - to redefine the data room exper... learn more about DataRooms.com

    Entry Level Price
    $299 per Month
    Free Trial
    1 days
    100%

    Category Focus

    Virtual Data Room Software
  • dataroomX

    Most secure and popular digital data room providers in Germany
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    dataroomX is one of the most secure and popular digital data room providers in Germany . Transactions in the tens of millions are carried out monthly via our virtual data rooms . For this purpose, strictly confidential or secret documents from renowned companies, law firms, banks, state and development banks, institutions, family offices, real estate companies, institutions / corporations under pu... learn more about dataroomX

    Entry Level Price
    $227 per Month
    Free Trial
    Available
    100%

    Category Focus

    Virtual Data Room Software
  • Deal Room Data

    Virtual Data Room, file sharing service.
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    Deal Room Data is a virtual data room service for brokers and M&A professionals. We provide a multi-level service for the independent broker up to the large firm. With Deal Room Data, you will have the ability to create deal folders, manage documents, create users and assign them various levels of access. By providing on-demand, around-the-clock access to information across an unlimited network of... learn more about Deal Room Data

    Entry Level Price
    $39.99 per Month
    Free Trial
    30 days
    100%

    Category Focus

    Virtual Data Room Software
  • FDM Platform

    Software solution for professional content management
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    Legal or regulatory requirements (e.g. Sarbanes-Oxley Act or Basel II) or simply business needs require an easy and safe storage, archival and exchange of an ever-growing quantity of documents and content of different of types, such as e-Mails, faxes, correspondence, plans, electronic documents, websites, etc.. Framesoft Document Management (FDM) is a software solution for professional content man... learn more about FDM Platform

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • FileControl Data Rooms are centralized repositories configured to support the storage, management, and dissemination of data and information organized around and pertaining to a particular event for a transient time frame. Leveraging FC2 technology, FileControl helps business and legal professionals solve three interrelated yet distinct challenges. These challenges are the need to store documents,... learn more about FileControl Virtual Deal Room

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Imprima VDR

    Secure Your M&A Transactions with a Virtual Data Room
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    Imprima’s Virtual Data Rooms are highly secure, reliable and easy to use virtual data room. It provides an online document safe, to help clients preserve the confidentiality of mission-critical documents and communications during any deal transaction. The entire process and our people are certified to ISO/IEC 27001:2013 – the latest and most comprehensive in-depth security certification for pr... learn more about Imprima VDR

    Entry Level Price
    $300 per Month
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Lightserve

    THE BEST VALUE IN FULL-FEATURED VIRTUAL DATA ROOMS
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    Safely store, share and exchange your sensitive and critical files and documents with Lightserve virtual data rooms. We support all major file formats, which are converted and securely streamed to allow you to control access, set permissions and protect information. Mitigate and avoid document leaks with watermarks. Track data room activity through audit event pages, email notifications and helpfu... learn more about Lightserve

    Entry Level Price
    $29 per Month
    Free Trial
    30 days
    100%

    Category Focus

    Virtual Data Room Software
  • OVD Enterprise

    Fast. Affordable. Manageable.
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    OVD Enterprise is a modern, flexible solution that deploys quickly, is easy to manage, and is half the cost of other solutions. We eliminate the cost and complexity that makes other app virtualization solutions expensive to own and difficult to manage. Committing to a virtual desktop solution to deliver apps is far more trouble than it’s worth. And it comes at a cost. Isn’t the entire point ... learn more about OVD Enterprise

    Entry Level Price
    Contact Vendor
    Free Trial
    14 days
    100%

    Category Focus

    Virtual Data Room Software
  • Planfred

    Simple. Flexible. Documented.
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    The aim of Planfred is the central administration and distribution of all project-relevant plans via a central data pool, so that everyone involved in the project can access all plans at any time and at the current status. It should also be documented who made which plan status available at what point in time, i.e. enable the planned delivery dates to be documented. Planfred is not a bloated const... learn more about Planfred

    Entry Level Price
    $22.75 per Month
    Free Trial
    30 days
    100%

    Category Focus

    Virtual Data Room Software
  • Prism Virtual Data Room

    Manage all one-to-many document and data sharing scenarios.
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    Prism's one-to-many secure document sharing supports investor reporting, board communications and reports, financial reporting and many other firm-specific workflows. Simplify document-based processes and gain a secure, single view into multiple ongoing capital raises, M&A and asset divestitures. Prism is a modern virtual data room enabling firms to securely store and share documents associated wi... learn more about Prism Virtual Data Room

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • RCM Virtual Deal Rooms

    Securely Store & Share Confidential Commercial Real Estate Documents
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    Whether you’re managing acquisitions, dispositions, asset portfolios, or the fundraising process, RCM’s Virtual Deal Rooms provide a secure way for commercial real estate professionals to share and store sensitive information online. Easily distribute confidential documents within your firm and across professional networks anytime, anywhere, and from any device — and do it all with the confi... learn more about RCM Virtual Deal Rooms

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • RealX.pro

    Capital Markets dealflow platform
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    Shorter sales cycle. Better value for your property. RealX.pro is a closed real estate sales platform for the Capital Markets segment serving the brokers, investors and banks. One secure platform for the entire community. Rapidly growing number of investors and banks prefer RealX.pro for receiving investment information (Aberdeen, Sagax, UBM Development, Nordea, Danske etc.). Over 400 real estate... learn more about RealX.pro

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • RJ Data Rooms

    virtual electronic data room
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    rj data rooms are a secure online virtual space for sharing your documents, where you can in comfortable and user-friendly way share various digital documentation with the your business partners and/or its employees or associates. Virtual data room is a web based application which supplies its users with comfortable and easy control of the uploaded and shared documents including various options of... learn more about RJ Data Rooms

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • TransCEND enables organizations to control access to information wherever it goes, both within and outside of the organization’s boundaries. The ability to remotely control who can view, edit, and distribute unstructured information empowers organizations to embrace external collaboration with confidence. TransCEND is helping 100,000 professionals across 1,000 organizations around the world achi... learn more about TransCEND

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Drooms TRANSACTION

    Work more efficiently than ever
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    The virtual data room for transaction due diligence - now with blockchain technology. Streamline due diligence processes and get the deal done with the leading European virtual data room provider. Whether your working around the clock on an M&A transaction, a structured finance deal, a restructuring and insolvency process, a fundraising campaign, a real estate asset sale, IPO or NPL transaction we... learn more about Drooms TRANSACTION

    Entry Level Price
    $14.45 per Month
    Free Trial
    30 days
    100%

    Category Focus

    Virtual Data Room Software
  • EthosData

    A simple, secure and quick data room service to simplify your transaction.
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    Using our award-winning service of easy-to-use data rooms and experienced teams of professionals, multiple parties can work on a deal’s confidential information. Your data room is launched in just 5 minutes. Our intuitive platform requires no plug-ins and lets you bulk ‘drag and drop’ to move files quickly. Set access levels and keep files protected with enterprise grade security. Track all ... learn more about EthosData

    Entry Level Price
    $180 per Month
    Free Trial
    30 days
    100%

    Category Focus

    Virtual Data Room Software
  • Firmex

    The World's Most Trusted Virtual Data Room
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    Intuitive, affordable, secure - thousands of companies worldwide choose Firmex Virtual Data Room (VDR) solutions to securely share their highly confidential documents. Our online data rooms are so easy to set up and use, customers can immediately control, share, collaborate and track the use of confidential documents. Whether you are looking to acquire or sell a company, raise funds, undergo a fin... learn more about Firmex

    Entry Level Price
    Contact Vendor
    Free Trial
    14 days
    100%

    Category Focus

    Virtual Data Room Software
  • ShareVault

    THE ULTIMATE VIRTUAL DATA ROOM for organizing and sharing confidential documents
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    ShareVault provides a simple, secure way to share sensitive documents with third parties during due diligence and other vital business processes. The on-demand platform is an innovative cloud computing solution that enables its customers to manage critical time-sensitive and document-centric processes faster and easier. ShareVault can be used in a variety of business transaction scenarios to provi... learn more about ShareVault

    Entry Level Price
    Contact Vendor
    Free Trial
    Available
    50%

    Category Focus

    Virtual Data Room Software
  • DocSend

    Share business-critical documents with confidence. Secure viewing plus game-changing analytics.
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    Securely share your documents with real-time control and insights—no matter where you're working. Increase security, control file downloads, and turn off access anytime. Be prepared for your next meeting with real-time intelligence. Update a file even after hitting send. And everyone automatically has the latest version. Protect your documents with passcodes and email verification, track if link... learn more about DocSend

    Entry Level Price
    $10 per Month
    Free Trial
    14 days
    25%

    Category Focus

    Virtual Data Room Software
  • Datasite Diligence

    Leading Data Room for M&A Due Diligence
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    Dealmakers require tools with features and capabilities that anticipate any roadblock they may face. With Datasite Diligence, you can set up a virtual data room (VDR) faster than ever before while gaining access to a set of leading features and expert support designed to keep your deal moving forward no matter the situation. Datasite is a leading global SaaS provider for participants in the M&A li... learn more about Datasite Diligence

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Virtual Data Room Software
  • Brainloop DealRoom

    Information security for your company
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    Brainloop is the leading provider of highly secure data room solutions for secure collaboration on confidential documents. Our data room solutions support efficient, digital and highly secure collaboration both internally and with external business partners. Starting with day-to-day business with sensitive information, through high-security processes in management and supervisory board communicati... learn more about Brainloop DealRoom

    Entry Level Price
    Contact Vendor
    Free Trial
    1 days
    100%

    Category Focus

    Virtual Data Room Software
  • Onehub

    A better way to securely store and share your business files in the cloud.
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    Onehub maintains your existing folder and file structures with secure online document sharing and collaboration. Onehub allows you to remain hyper-organized and access your files from anywhere. All of your content is kept secure via precise permission controls that limit abilities by roles such as Viewer, Creator, and Administrator. Organize your most sensitive business information and securely s... learn more about Onehub

    Entry Level Price
    $15 per Month
    Free Trial
    14 days
    14%

    Category Focus

    Virtual Data Room Software
  • ContractZen

    Your digital governance hub
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    Ready-to-use cloud service with contract management, board portal, VDR, eSignatures and more! ContractZen is your digital hub for corporate governance. Forget the time-consuming and expensive implementation projects and consulting. Loved by customers from over 30 countries, ContractZen is a revolutionary cloud service for organizations of all sizes to eSign and manage contracts, financial documen... learn more about ContractZen

    Entry Level Price
    $9.50 per Month
    Free Trial
    30 days
    33%

    Category Focus

    Virtual Data Room Software
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Frequently Asked Questions

  • What is a Virtual Data Room Software Used for?

    Virtual data room software or VDR software is used for storing multiple documents and files that contain sensitive and confidential information. Data relating to financial information, legal issues, taxation, trade secrets, copyright certificates, etc., are usually stored using virtual data room software to keep them private and secure. All of this information should be easily accessible by the users when required but at the same time should be protected from unauthorized access, and this is where virtual data room software comes into the picture. Below-mentioned are some of the most prominent uses of virtual data room software;

    Merging & Acquisition - The companies going through merging and acquisitions require to share many documents with multiple parties in a secure environment. A virtual data room software simplifies the process of managing merging and acquisition for all the parties involved.

    Intellectual Property & Copyright - The companies need to share their intellectual properties and copyrights securely with the external concerned legal departments or organizations. A virtual data room software helps in sharing such sensitive information without any risk.

    Financial Reporting - The virtual data room software allows equity investors and financial organizations to share portfolio information, financial reports, and other critical information with high-end security.

  • What Are the Main Features of a Virtual Data Room Software?

    File Permissions

    Virtual data room software allows you to set file permissions for viewing, modifying, deleting, and downloading documents. Suppose you don’t want a particular document to be downloaded or edited by another user, then you can set its permissions as “view only” thereby assuring that the document is protected from any misuse.

    Data Organization

    The virtual data room software systematically organizes the documents eliminating duplication issues. Searching a specific document gets easier, even if you don’t remember the file name. You can search the exact document by just hinting a portion of text within the file. 

    Alerts and Notifications

    The virtual data room software alerts the users whenever any documents have been accessed, changed, or even tampered with. It also notifies the users when required to take any action like viewing and signing a document.

    Uploading Files

    Many virtual data room solutions allow you to upload multiple files simultaneously. In contrast, some may also have a drag and drop feature that enables you to upload one file at a time.

    Communication & Collaboration

    Besides sharing and accessing the documents, the virtual data room software allows users to add their comments or suggestions in the documents based on their digital rights.

    Virus Scanning

    The virtual data room software automatically scans the documents while uploading to prevent viruses or any kind of malware that can affect other documents that are already present on the server.

  • Why Should I Invest in Virtual Data Room Software?

    Virtual data room solutions are specifically built for highly sensitive business data. The virtual data room systems include high-end security features that help companies in managing merging & acquisition events, financial portfolios, etc. With a file-sharing tool like Google Drive and Hightail handling critical business processes becomes slightly challenging. The virtual data room solutions are built with multiple layers of security and encryption that can protect the data exponentially.

  • How to Select the Best VDR Software?

    Identifying your Business Needs and Abilities

    The first step is to identify the purpose, and see if the Virtual data room software you are planning to buy can enhance your current business practices or not. Also, you need to analyze your technology capabilities and select a compatible option accordingly.

    Check Features

    Just go through the details about the features of the virtual data room software before making a selection. The virtual data room software you select should include the features that can help you achieve your business goals.

    Consider Budget

    The cloud-based virtual data room solutions are available at a monthly subscription price and thus are affordable and cost-effective. Still, you need to consider your budget before shortlisting the options suiting to your business strategies and the number of users using virtual data room software in your organization.

    Compare Different Virtual Data Room Software

    Comparing different virtual data room software is now easy with the help of GoodFirms. The experts at GoodFirms have curated the list of the best virtual data room software that will help you pick the right VDR software for your business. This list includes in-depth details and authentic reviews for each software to help you make the right purchase decisions.

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