If you’re a business proprietor preparing to conduct an M&A or IPO it is essential to select a reliable virtual data room provider that is capable of managing such sensitive and private transactions. You should select a virtual deal room that comes with various features, such as advanced security tools, activity monitoring and specific settings. Some VDRs allow you to add watermarks to documents, track downloads and screenshots and offer other customizable options.

Some of the most well-known data room providers include iDeals, Box, SecureDocs and Firmex. iDeals’ flexible pricing plans with advanced features and a simple interface make it ideal for small and medium-sized businesses. Box offers basic collaboration and sharing capabilities however it lacks the advanced features. Firmex simplifies business processes for large companies. Its custom-priced software is scalable and allows users to see your data in real-time.

Docully Citrix ShareFile and HelpRange are other notable virtual data room providers. HelpRange is perfect for startups and freelancers, with a free trial that lets you try the features before making a decision. Citrix ShareFile, a cloud-based software is ideal for small, medium and large businesses. It offers advanced features and an extensive set of features with multiple integrations, role-based Q&A, and secure messaging. This VDR is also HIPAA-compliant, with built-in support and a secure web client. This VDR is a good option for businesses that have to transfer sensitive documents, like biotech & pharma and healthcare.