20 Best Virtual Data Room Software in 2022

What is the best virtual data room software?
The best virtual data room software is Firmex because of its comprehensive set of document sharing and data room functionalities. Mobile-ready and user-friendly, this platform allows users to better manage their documents and accelerate due diligence. What’s more, with its international security compliance, you can be sure that all your digital assets are safe from prying eyes.

Are you looking for a solution to facilitate a safe and speedy document exchange? Then virtual data room software is your answer. Today, virtual data rooms are taking over the market, offering tight data protection and security measures on top of its organized storage space capacity. Other great features from top virtual data room platforms include document expiration, document versioning, and speedy uploading. Moreover, best-in-class virtual data room solutions offer collaborative features as well for easy sharing and communication.

Since there are plenty of products available today, we’ve created a compilation of the 20 best virtual data room software solutions. In this way, you can browse through them and see which solution has the best features for you. We hope this article will help you with your software hunting.

leading virtual data room software

The majority of data produced around the world is transactional. Meaning, a good chunk of the data today are generated by financial institutions and companies involving their operations, buyers, and suppliers. Since data thieves, unfortunately, are also aware of the value of this crucial information, there have been countless data breaches over the years. This is why the adoption of IT security software is also on the rise.

Each day, almost 5 million data records are either lost or stolen around the world. This is alarming as sorting it out costs a huge amount of money. According to, the average cost of a data breach in companies is estimated to be $3.92 million in 2019. Moreover, the data breach lifecycle or the length of time it takes a company to identify and contain a data breach has risen by 4.9% from 2018 and reached an average of 279 days.

Data Breach Life Cycle

Furthermore, in most cases, data breaches lead to identity theft of your clients. In a survey conducted by the Identity Theft Research Center, this matter cannot be resolved quickly. Nearly 62% of identity theft victims haven’t resolved their cases yet even after 5 years. This is devastating for your clients as well as your company as you’ll lose your client’s trust and confidence throughout the ordeal.

Thus, it is important to keep up with cybersecurity trends as well as have a secure online repository where you can safely share and collaborate on files and other documents. Among the many virtual data room offerings, we have chosen twenty as they are the best the market has to offer. Which one fits your needs? Find out.

Of course, if you need more security for your internal infrastructure, you should also consider browsing the top 20 best IT security software solutions today.

20 Best Virtual Data Room Software

1. Firmex

Firmex dashboard

Firmex is an enterprise virtual data room widely used for a variety of processes including compliance, litigation, and diligence. It is highly secure, utilizing document control and DRM such as custom permissions, dynamic watermarks, lock-down files and document expire. This makes it an ideal platform for exchanging, transmitting and collaborating with sensitive documents.  The system has specific solutions for investment banking, biotech, government, energy, and legal industries.

Designed for non-technical users, it has drag-and-drop ease to set up your projects quickly or move documents by bulk. A key feature, it helps you to organize the files easily with a directory listing and data room index. The index can be exported to PDF or Excel. A large organization with tons of documents will appreciate this feature best.



Try out Firmex with their free trial

Another admirable feature is the “View As,” which lets you see the document content before you access the data room, a time-saving tool when you are searching for something. Control in Firmex is flexible, giving you the option to implement strict access or lenient rules for convenience. You can also manage users with individual and group level permissions. Likewise, admin can turn to dashboards and reports that show user and document activities down to how the information in the document is used. Firmex also features DRM control, as specified above.

Additionally, Firmex is available for iPhone and iPad (Android not yet supported). The vendor claims to provide 24/7 support (terms may apply). Pricing is flexible, you can opt for a per-user subscription or an unlimited plan.

Detailed Firmex Review

Why choose Firmex?

  1. Enterprise-grade features. If you’re a large organization, Firmex is ideal for you. It supports mission-critical processes, huge file volumes and auto-indexing that organizes the documents for easy retrieval.
  2. Bank-grade security. It subscribes to industry regulations like GDPR, SOC 2 and HIPAA and features high-level security protocols like firewalls and intrusion protection, physical data protection, ongoing risk assessment, and disaster management.
  3. Robust but flexible control management. Firmex adopts strict DRM and document control rules that can be customized to let you set the security level you require. You can set watermarks, restrict viewing, lock files and set expiry date, or you can override these specs if you want more convenience over security.
  4. Mobile-enabled. You can access the system and your documents from the convenience of an iPhone or iPad. The mobile interface offers desktop features. It allows both administrators and users to collaborate on the go.
  5. Transparent pricing. You can go for an unlimited plan or, if the budget is tight, opt for pricing based on the number of users and storage.

2. iDeals Virtual Data Room

iDeals Virtual Data Room dashboard

If you’re looking for a secure tool for sharing and collaborating on business-critical documents, iDeals Virtual Data Room is a good VDR product to consider. It is a document sharing platform that enables you to share files with the peace of mind over their security. It offers tools such as single sign-on, data encryption, two-step verification, and fence view feature, among others, to leverage your document protection.

Furthermore, it also includes a variety of business tools to provide a complete solution to your needs ranging from Q&A tools, smart filters, keyword searches, and a secure Excel viewer. It also includes secure viewing for over 25 file formats.

To learn more about what this product has to offer, the vendor offers a free trial plan that lets you test out the software at no cost.

iDeals Virtual Data Rooms

iDeals Virtual Data Rooms

Try out iDeals Virtual Data Rooms with their free trial

Aside from its extensive selection of functionalities, iDeals Virtual Data Room also allows users to use a more data-driven approach to their operations. The platform comes equipped with reporting functionalities can generate in-depth insights into user activity within the data room. It can even provides audit trails, allowing companies to boost accountability and transparency.

Detailed iDeals Virtual Data Rooms Review

Why choose iDeals Virtual Data Room?

  1. Quick implementation. With no plugins required, the tool can be deployed in an average timeframe of 15 minutes. Any device—any browser, mobile device, and computer—can be used to access the program.
  2. Reliable support. If you need help, you can contact support 24/7 including holidays and weekends. You’ll get the same dedicated project managers to assist you every time you call.
  3. Secure platform. All data centers are compliant, fully audited and certified. Furthermore, data is protected by encryption.

3. Vitrium Security

Vitrium Security Dashboard

Vitrium Security is a content security and DRM solution that secures users’ digital images, videos, documents, and other files. It’s ideal for distributors, publishers, and content creators who want to increase their bottom line by protecting their assets from illegal sharing and distribution. The platform guarantees the security of its contents by applying several layers of stringent measures such as military-grade encryption and man-in-the-middle (MITM) attack protection.

Vitrium Security supports a wide range of files like PDF, XLS, DOC, PPT, TXT, ODT, and more for documents. For multi-media, the system accepts video formats like MP4 and AVI and image formats such as JPG, GIF, BPM, etc.

Vitrium Security

Vitrium Security

Try out Vitrium Security with their free trial

Furthermore, Vitrium provides users with great control over their digital assets. For instance, the content security configurations feature lets you add watermarks and limit the copy of documents. It also allows you to add several more layers of security features like offline access, login access, browser limits, DRM policy protections, and expiration dates.

Aside from the file management functionalities, the software also lets you add and organize users. You can group them according to custom criteria and give controlled access rights. As for integration support, Vitrium is quite robust. It lets you connect with third-party solutions like CMS, ecommerce, document management systems, AMS, LMS, and more.

Detailed Vitrium Security Review

Why choose Vitrium Vitrium Security?

  1. Content Security. Vitrium offers multiple layers of security to your digital contents like military-grade encryption, password protection, expiration dates, DRM policy protection, and more.
  2. Easy File Access. While secured, files stored in Vitrium are easy to access. Viewing files does not require any use of an app or plugin. It’s also designed to be responsive so you can access it through your mobile phones.
  3. File Control. With content security settings, you can control many aspects of your files. This includes imposing a limit to the copy and print actions, forcing login forms to appear, and adding a watermark.
  4. Analytical Tools. Vitrium Security provides a host of analytics features like real-time reports, user-tracking, analysis of user behavior, and video analytics.
  5. Simplified Sharing. Sharing files via Vitrium is easy. You can embed the contents as a secure PDF or web links. You can also embed the videos on any site or portals. Plus, it integrates with various systems like ecommerce and LMS.

4. eFileCabinet

eFileCabinet dashboard

eFileCabinet is a VDR solution to help companies get rid of paperwork and move to a more efficient paper-free environment. While it’s geared towards small and growing businesses, this tool can be used by enterprises that handle larger volumes of data by choosing its higher storage capacity.

The platform offers a variety of delivery modules to streamline and expedite how you upload data for a complete document management software solution. It also offers various integrations to make data migration easier. By automating these tasks, you lower the risk of human error from manual processes that opens the potential of losing crucial corporate data.

What’s also unique about eFileCabinet is that it offers an on-premise deployment option as well. It also has a file versioning feature on top of built-in security modules with 256-bit bank-grade encryption. There are many other features such as an automatic 24-hour backup and rapid uploading (fifty files at one time).

Detailed eFileCabinet Review

Why choose eFileCabinet?

  1. Flexible deployment. According to your preference, you can choose to deploy the system in the cloud or on-premise. You can choose which option suits your business’ requirements better according to pricing and implementation.
  2. Mobile-optimized. Empower accessibility of your data using any device remotely through its mobile-ready interface. The quality of both its mobile and desktop interface is consistent.
  3. Zonal OCR tool. This is an automation feature that recognizes files recently used and routes them to their specified recipient according. Even without human interaction, the file is automatically saved to the most appropriate cabinet or drawer.

5. Encyro


Encyro is a multipurpose tool with functions for file-sharing, e-signature collection, and email encryption. With this app, businesses can securely share sensitive and confidential data without worrying about security issues and protection of client data. The software comes with 16 layers of security and an automated encryption technology that allows businesses to store files, send and receive emails, and collect e-signatures.



Try out Encyro with their free trial

Backed by multiple data centers, Encyro ensures that all your files and data are stored in an encrypted location, with local and remote backups in case of server failure, hard disk crash, or other hardware issues. In addition, Encyro’s file storage capabilities allow you to organize files and documents by contact to improve file management for your organization.

Why choose Encyro?

  1. File organization. Encyro offers an auto-organization feature to make it easier for you to store and locate files. It generates intelligent and automatic usage optimizations and file organization in accordance with performance and cost.
  2. Unlimited storage. Encyro offers an unlimited storage for all your shared client files. It also monitors storage use to protect your data and prevent any abusive storage usage.
  3. Email encryption. The software also comes with powerful encryption to ensure that the content of your emails will not fall into the wrong hands. Even without creating client accounts, sending special links, or configuring permissions, you can rely on Encyro to securely send and receive emails.

Detailed Encyro Review

6. Datasite

Datasite dashboard

Datasite is a virtual data storage system built for businesses that need a solution for conducting a secure and compliant due diligence. Ideal for speeding up mergers and acquisitions and similar business transactions, this tool is reliable in helping professionals manage deal execution efficiently.

This tool was developed from critical direct inputs from customers which helped with the development and design of its user interface, user experience, and functionality.

Core features include robust file organization, folder indexing, online file sharing, optical character recognition, integrated redaction, as well as activity tracking. Moreover, it has both simple and advanced search options as well as granular user access controls. What’s more, it comes with real-time reporting options as well as highly customizable dashboards so you can make it work according to your preferences.

If you want to check out the solution closely, you can sign up for a Datasite free demo.

Moreover, there are also modules for Q&A management and project management. And, the high-level enterprise security offers tight protection of your data with end-to-end encryption and a single chain of data custody.

The software comes with a mobile version for iOS devices as well. Lastly, it is offered in personalized quotes. You can read more about its features in our detailed review.

Detailed Datasite Review

Why choose Datasite?

  1. Tech compatibility. It eradicates the need for IT infrastructure as it doesn’t require any software to be downloaded and add-ons to be installed. The tools and features you need are included and built in the app itself.
  2. Advanced search options. The tool comes with a search engine that can handle simple and advanced queries, allowing you to quickly retrieve the files you need no matter how large your document repository may be.
  3. Automated redaction. Last but not least, Datasite allows users to accelerate the redaction process using it’s search function. All you will need to do is mark the logos, text, and images that you need to redact and let the system work on it for you.

7. ContractZen


ContractZen is a VDR, contract management, and electronic signature in one one powerful package. Operating on the principles of strong governance, the platform elevates trust and accountability so organizations can have a peace of mind that their confidential data and processes are sealed with the best security protocols that the market has to offer. Specifically, it was established compliant with ISO 27001, FedRAMP, and HIPAA, among others.

For organizations looking to push their operations to be fully digital and mobile, ContractZen is the way to go. The application can deftly handle contract lifecycle management just as well guarantee the utmost privacy for board meeting sessions. For managing storage documents and files, the app uses a fast full-text search capability for seamless access experience.



Try out ContractZen with their free trial

Why choose ContractZen?

  1. Find what you need fast. You can opt to limit your search with precise keywords or use a full sentence and ContractZen will return with best-matching results. This is possible because the app’s powerful search engine is metadata-driven and its OCR takes advantage of Microsoft’s AI platform.
  2. Dynamic contracts. Managing contracts has never been easier with ContractZen’s automation of critical contract functions, from sending reminders to setting timelines.
  3. Tight security. Virtual data rooms are only as good as how much they remain safe from prying eyes and malicious elements lurking in the internet. For better peace of mind, all ContractZen documents are encrypted via RSA 256 encryption, with service connection constantly encrypted through Symantec SHA 256 RSA SSL with extended validation.

Detailed ContractZen Review

8. Google Drive

Google Drive dashboard

Next on our top 20 virtual data room software solutions list is Google Drive which is one of the most popular cloud storage systems with a robust office-suite collaboration functionality. It includes a word processor, presentation, and spreadsheet program. At its core, it is an online storage service with a generous storage space you can use, especially if you’re using Google productivity apps and files such as images, videos, and documents, among others.

Individual users readily get a free 15GB storage and basic sharing capacity which you can use for regular files or office documents. Its collaborative office-suite is also a good cloud-based solution with its programs called Docs (word documents), Slides (PowerPoint presentations), Sheets (spreadsheets), Forms and Drawings.

The highlight of this program comes in its automatic, real-time file-syncing regardless of the computer you’re using. It streamlines how you upload, migrate, and share files making it one of the top 3 file sharing software systems.

Using cloud technology, there’s no required software to download so you can immediately use the tool. It lets you open and save a variety of file types and actively monitor all changes made with details on what changes were made by who at what time. Furthermore, mobile users can install and use the app on their devices—both for Android and iOS.

Detailed Google Drive Review

Why choose Google Drive?

  1. Live chat. When multiple people are active on the same file, you can use live chat to communicate and collaborate within the file itself. This streamlines all communication regarding the file to make sure everybody stays on the same page.
  2. Variety of file formats. Whether you’re using it for personal and business purposes, the tool supports a wide range of file types. It opens and saves formats in DOCX, HTML, PDF, PNG, TXT, SVG, XLSX, and PPTX. Meanwhile, formats such as 3GPP, AI, DOC, EPS, AVI, and ZIP, among others can be opened but only saved on the previous formats mentioned.
  3. Available for free. The tool can be used for free which already gives you 15GB of storage and its basic, essential features. You will only pay for the service when you want to add storage space.

9. Box Virtual Dataroom

Box Virtual Dataroom dashboard

Box Virtual Dataroom is a secure platform built for deal management for mergers and acquisitions. It specializes in ensuring you focus on closing deals instead of documents since managing a merger and negotiating a contract is as complicated as it is. Hence, it provides a solution for moving documents and negotiations out of emails and into a secure virtual data room.

This central repository is built for contracts, plans, meeting minutes, bids, and schedules. The secure workspace gives you a platform where you can upload, create, view, and search for any file you need on any device. You control user access and restrict the ability to share, print, and download files.

Furthermore, it mitigates data breach with file encryption, regulatory compliance, and individualized document watermarking, among others.

Detailed Box Review

Why choose Box Virtual Dataroom?

  1. Custom branding. Establish your branding when your partners access your files with a professional and branded experience. The tool enables you to add your logo and use your branding’s color scheme in the Box interface and login page.
  2. File sharing and access. It has a password-protected link so you can share confidential documents with peace of mind. Additionally, you can set the link to expire at your specified time or delete shared links.
  3. Comprehensive reporting. Make data-driven predictions that give you visibility over the behavior of your potential buyer. This enables you to audit file usage and user activity.

10. ShareFile Virtual Data Rooms

ShareFile Virtual Data Rooms dashboard

ShareFile is a file sharing service built for business-class, real-time collaboration. It automates workflows for providing feedback, requesting approvals, co-editing, and getting legally e-binding signatures to accelerate productivity. Developed for personal and professional usage, this tool is packed in an easy-to-use platform for all types of users, even those that aren’t tech-savvy.

One of the tool’s strongest points is its robust third-party integrations. Data sharing is secure and flexible. Furthermore, it offers a variety of security capabilities such as granular permissions, multi-level access authentication, and SSL/TLS 256-bit encryption.

Also, you can manage your security settings on your own through extended customization with an internally monitored and password-protected document archive. Its Activity Log also stores all file information for streamlined tracking.

Detailed ShareFile Review

Why choose ShareFile Virtual Data Rooms?

  1. File sharing customization. While it’s not the tool to manage your file sharing, it empowers you to have an unobstructed sharing process through organized folders and shared and synced data.
  2. Roles and permissions access. Give full or restricted access to your file library based on their role and permission. For instance, you can define the level of access for your employees and control external clients.
  3. Office 365 integration. If you’re using Office 365 suite of applications, you’ll appreciate the app’s real-time versioning and co-editing to leverage collaboration and communication.

11. Egnyte

Egnyte dashboard

Egnyte is a VDR designed for content collaboration, data protection, and infrastructure modernization. Beyond being a file-sharing solution, it enables seamless collaboration between your business by enabling you to access the system on any device using any device in any app you prefer.

It ensures compliant data governance across the program by enabling you to monitor usage patterns and access controls. This ensures you stay on top of private and sensitive information on your organization.

One of its products, Egnyte Connect, specializes in leveraging collaboration. The enterprise file sharing solution is designed for teams to work how and where they want without affecting their productivity and efficiency. In fact, this platform reduces file bandwidth usage while enabling robust access to both internal and remote users.

Detailed Egnyte Review

Why choose Egnyte?

  1. Flexible platform. The SaaS product sidesteps the need for VPN and FTP. It also has a modernized infrastructure that’s compatible with popular industrial third-party applications.
  2. Admin and management. The centralized toolkit empowers you to secure sensitive and confidential data across your organization, including multiple domains.
  3. Hybrid deployment. Implement the system in a model that fits your workflow and requirements. The tool is available in the cloud, on-premise, and as a hybrid solution.

12. Intralinks Virtual Data Room

Intralinks Virtual Data Room dashboard

Intralinks Virtual Data Room streamlines M&A to elevate the processes for dealmaking, global banking, and capital market transactions. Built on a secure digital platform, information and transactions that are sensitive and high-stakes are guaranteed to be on safe hands. Furthermore, it offers lifetime data protection, highly-managed custom permissions, and advanced IRM (Information Rights Management) for a secure VDR.

Over the years, it made a couple of improvements for its platform as well. One of them is the upgraded user interface that’s faster and more user-friendly. This way, non-tech savvy users can focus on deals and avoid struggling with learning how to use the system. It also incorporated machine learning to automate various processes such as sorting documents and reviewing contracts to save more time and avoid costly errors.

Detailed Intralinks Virtual Data Room Review

Why choose Intralinks Virtual Data Room?

  1. Faster implementation. Deploying the system in your organization only takes a couple of minutes. You no longer have to wait for hours or days to use the VDR tool.
  2. Business solutions. Regardless of your purpose for using the program, it offers a wide array of options to fit your requirements. For instance, it works solutions for M&A due diligence, capital raising, deal lifecycle, and debt financing, among others.
  3. Industry- and role-specific products. The tool is built for advisory and corporate finance, alternative investments, banking and securities, corporate development, finance departments, and legal departments.

13. Onehub

Onehub dashboard

Onehub offers a cloud-based file-sharing system and VDR to help you manage your deals faster. It offers a secure platform where you can privately share sensitive data while also allowing collaborators to stay anonymous. This system is easy to set up and built to simplify various processes. For instance, you can use a simple drag-and-drop method to upload multiple files at once directly from your browser.

Its Activity Tracker feature gives you visibility over who interacts with your files and what interactions were made. This lets you see all the activities that occurred in every single file for monitoring.

Both its desktop and mobile app allows high-quality previews for over 30 file types. Other features include collaboration and communication using its Workspace feature and flexible customization to match your branding.

Detailed Onehub Review

Why choose Onehub?

  1. Bank-level encryption. To give you peace of mind when sharing files, the system provides bank-level encryption in transit and at rest to ensure only the people you invited can access the data.
  2. Custom branding. Create a professional-looking and branded experience for your clients by adding your logo and brand colors to your Workspaces.
  3. Precise permissions. You stay on top of who can access your content and the level of permission of each user to avoid a data breach.

14. Syncplicity

Syncplicity dashboard

Syncplicity is a VDR platform that offers solutions specifically for business users and IT professionals. It has a hybrid solution that provides you with storage infrastructure aggregation, file share replacement, real-time document security and backup, data migration, system connectivity, mobile collaboration, sharing and editing, and any-device content access.

As a user, you get folder syncing without additional steps or rearrangement of workflow, automated version control, and online file browsers. Additionally, it offers mobile access as well as sharing and collaboration. Meanwhile, IT users get solutions ranging from policies and control (such as external sharing restrictions and group-level policy control), admin management, storage, and deployment.

Detailed Syncplicity Review

Why choose Syncplicity?

  1. Microsoft integration. Streamline collaboration if you’re using Microsoft Office applications. This lets you share files externally and internally without hiccups.
  2. Native mobile app. Access all content through the mobile app which ensures receiving and sharing files, viewing common document types, and saving files for offline access.
  3. Group and user management. Take control of push configuration settings to users, custom branding, and Active Directory synchronization, among others.

15. RR Donnelley Venue Data Room

RR Donnelley Venue Data Room dashboard

RR Donnelley Venue Data Room is a VDR tool for bulk file management, real-time graphics reporting, and user activity monitoring. Also referred to as “Venue,” this product is a virtual platform built by the company to assist financial institutions in managing their complex local and cross-national projects. Built for M&A, it is equipped with tools and features to help you run deals smoothly and efficiently.

Since Venue is not the company’s main product as it’s considered as a complimentary service to its other tools, it still provides you with the standard VDR functions with a reliable data protection security, especially your business falls under the financial industry. Some of the industry solutions it supports include due diligence, document repository, M&A buy and sell-side, and procurement management.

Detailed Venue Virtual Data Room Review

Why choose RR Donnelley Venue Data Room?

  1. File protection and DRM. Your files are secured with data at rest encryption, view-only access, granular document permissions, and customizable document watermarks. It also has a document access expiry feature and 256-bit SSL/TLS encryption.
  2. Tight data hosting and infrastructure. The platform has a high uptime guarantee in addition to its SOC 2 and ISO 27001 certification. Virus scanning and data backup are also available.
  3. Activity reporting. Track activities of all users efficiently through real-time audit trails and document viewing time. This generates graphic reports for a comprehensive activity overview and insights.

16. Ipreo Prism Virtual Data Room

Ipreo Prism Virtual Data Room dashboard

Ipreo Prism Virtual Data Room provides you with a secure platform for sharing information with your key stakeholders, partners, and investors. This platform simplifies various processes starting from its deployment that doesn’t take more than 5 minutes. Using cloud technology, implementation is fast with no downloads, installations and plug-ins required.

It also streamlines how you manage deals by providing a single dashboard that gives you a robust overview of crucial information at a glance. Single-file and bulk uploads are also done seamlessly through rapid document upload. Additionally, its permission setting capabilities are made intuitive and simple. Since security is an important factor for a VDR, you’ll appreciate its user-based document watermarking, audit trails, and certification including SOC2 and ISO27001, among others.

Detailed Ipreo Prism Review

Why choose Ipreo Prism Virtual Data Room?

  1. Document management. Streamline handling documents by emailing them without having to log in, auto-indexing folders and file structures, and maintaining the structure during uploads through drag-and-drop capability for single and multiple documents.
  2. Permission Matrix. An overview of permissions at varying levels for the document, firm, and contact. When new documents are added to your VDR, you can manage the notifications sent to users.
  3. Participant management. In a single click of a button, you can restrict access to the documents. You can also add participants individually or by bulk to expedite the process.

17. Ansarada

Ansarada dashboard

Ansarada is an AI-powered VDR solution that specializes as a material information platform for material events. In addition to its AI-powered data rooms, you also get features such as its own deal assistant app, AiQ bidder engagement, and due diligence Q&A. Its interactive assistant is developed to provide immediate answers to your questions anytime and anywhere.

With the addition of AI, you can empower predictions that can help you know more about the likelihood of bidders reaching deal negotiations. This way, you can plan for the right approaches and strategy for closing transactions and maximizing your client value. As the tool is not limited to any device, you can have your own mobile analyst along with you remotely to utilize AI and machine learning right at your fingertips.

Detailed Ansarada Review

Why choose Ansarada?

  1. Centralized data location. It provides you with a snapshot of crucial business data in a single location that’s available at a moment’s notice. This enables you to identify gaps and reduce silos to take control of your business effectively.
  2. Bidder engagement. With robust insights about your bidder, you will know who is interested and who isn’t to maximize your approach for each of them accordingly, especially in completing due diligence and submitting an offer.
  3. Intelligent insight. As early as 7 days in a deal, the system generates insights on an accurate prediction of the bidder outcome. It uses its own algorithm for Bidder Engagement Scores from an analysis of thousands of deals for forecasts.

18. SecureDocs Virtual Data Room

SecureDocs Virtual Data Room dashboard

SecureDocs Virtual Data Room is a simple and intuitive VDR platform for moving transactions quickly and efficiently. It streamlines manual tasks through its drag-and-drop capability for documents and folders. The product also offers a flat-fee pricing scheme that already includes unlimited users and data to give you value for your investment. This tool is commonly used in technology, life sciences, legal firms, investment banking, and private equity and venture capital.

VDR provides various solutions for your needs. In addition to offering a secure data room, you also get a virtual deal room where you can manage deals effectively. This is meant to expedite the deal process and give you control over your data. As a corporate repository, you can protect your intellectual property while storing and sharing them.

Detailed SecureDocs Review

Why choose SecureDocs Virtual Data Room?

  1. Maximum security. It tightens the security of your system with audit trail reporting, multi-factor authentication, access control, data encryption, certified AWS data centers, and SAML 2.0/SSO.
  2. Gain insights. Stay on top of who’s interacting with your documents by receiving daily email notifications of your audit trail reporting, activity alerts and user actions including tracking of IP address.
  3. User roles. Protect your sensitive information through permission-based user roles to give view-only access and assign granular permissions at various levels.

19. RCM Virtual Data Rooms

RCM Virtual Data Rooms dashboard

RCM Virtual Deal Rooms is a VDR tool built for storing and sharing confidential commercial real estate documents. This tool is used by professionals who are handling acquisitions, asset portfolios, fundraising processes, and dispositions in the industry. It offers a safe, compliant and fully auditable solution for distributing sensitive files within your firm and professional networks using any device at any time and anywhere.

Commercial real estate owners, brokers, servicers, asset managers, title companies, attorneys, equity partners, and lenders have been using this tool over the years to manage transactions efficiently. It also serves as a global marketplace for buying and selling CRE.

Detailed RCM Virtual Data Rooms Review

Why choose RCM Virtual Data Rooms?

  1. Commercial Real Estate. If you are a seller or buyer of CRE, this is a robust tool that offers various solutions specifically for your use case. For instance, buyers get a buyer database and marketing toolkit.
  2. inSIGHT. The tool provides a centralized business intelligence hub for capturing, organizing, and generating crucial capital markets data.
  3. Document protection. As a secure deal room, it supports a variety of CRE-related apps ranging from due diligence, debt and equity fundraising, and refinancing, among others.

20. SunGard DX

SunGard DX dashboard

SunGard DX is a VDR tool built for data exchange that automates data capture and reports distribution. It is mostly used by financial institutions to operate their sensitive, time-sensitive and mission-critical processes. One of its key features includes its encrypted data transfers between the PC of the end-user and the web servers to make sure your data is protected at all times during the transfer.

It is also used by enterprises with information-depended operations. Users can easily navigate around the system’s user-friendly interface and layout. You can customize your online experience by setting alert preferences and managing your bookmarks and searches. Its Data Exchange Administrator Console also doesn’t require technical knowledge for managing your data content.

Detailed SunGuard DX Review

Why choose SunGard DX?

  1. User entitlements. Documents or document folders can be entitled to specific users such as prospects, investors, and deal teams. You can also restrict the actions each user can perform to leverage security.
  2. User-defined watermarks. Watermarking templates can be predefined and applied to folders in the data room to deter viewers from misappropriating the file or document.
  3. Audit report. Know the exact pages that were viewed, printed, and saved as a document by who and when which gives you an accurate tool to track your document’s whereabouts.

Other Recommended Virtual Data Room Solutions

  1. SmartRoom VDR. Based on Microsoft Azure, it delivers functions such as deal management, collaboration space and file sharing to store and share data securely in the cloud. The platform is ideal to manage documents of mergers & acquisitions, lifecycle management, regulatory reports, investor reports, fundraising and loan syndication, among others.
  2. Brainloop. Its main module, Brainloop BoardRoom, lends to your organization a virtual board for collaboration and communications. The platform features enterprise-grade security for sensitive data, which can be accessed via mobile. Other key features include meeting calendar, rules for appointing representatives and two-factor mobile authentication.
  3. netfiles Dataroom. Suits collaboration needs for diligence, research and development projects, where files and folders can be uploaded entirely in an organized structure. There are automatic indexing and an integrated search engine for quick retrieval. Key features include a Q&A module, versioning, document approval, and mobile access.
  4. Vitrium Systems. An enterprise content security and DRM for content creators, publishers, and distributors. It is compatible with a wide array of formats, such as PDF, Word, Excel, PowerPoint, RF, TXT, JPG, BMP GIF and TIF. Key features include 256-bit AES military-grade encryption, custom watermarks and expiry dates for access.
  5. Koofr. It features multiple cloud account connectors and mobile access for iOS and Android, with storage beginning at 2 GB for freemium. There are no individual file size limits. Key integration includes Google Drive, Dropbox, Amazon, and OneDrive.
  6. Safelink Data Rooms. It allows you to enter notes directly onto documents, which you can clean up and reformatted for a formal presentation. It has index generation, custom cover pages, and auto-numbering and can read emails in PST, EML or MSG. Some of its other features are: auditing, granular permissions, page-level document tracking, and ISO-27001 certified data centers.
  7. Sterling Data Rooms. It has highly-secure virtual data room UI, dynamic watermarks for document protection and unique tagging for quick retrieval and proper context. The solution also features document-level permission, zero-plugin reliability, and real-time reporting.
  8. EthosData Data Room. It is remarkable for its simplicity, where you can easily access documents securely. The platform can be customized also and its interface white-labeled. Other important features are Q&A, real-time email notifications, activity tracking, and application-level security.
  9. IROOMS VDR. The platform adapts to a variety of industries and business size, and also suitable for mergers & acquisitions, due diligence processes, and different deals and transactions. Its data room is accessible also via multiple device types and has multi-lingual support.  Core features include advanced Q&A and alerts, real-time reporting and complete audit trail.
  10. Nomadesk. An enterprise file sync and share platform that allows users to centralize documents and files securely in virtual hard drives and edit them from various devices. The system is ideal for resellers, distributors, OEMs, and manufacturers, among others.
  11. iWeb FTP. A file hosting platform for IT teams, project managers and business of any size, it provides a secure online file sharing via FTP. Its portal can be white-labeled and can handle unlimited file transfers. Permission controls ensure only authorized users get to access confidential files.
  12. idrShare Virtual Data Rooms. Highly customizable to the needs of big industries that deal with sensitive information, such as energy companies, financial institutions, and equity firms, the platform features important tools like the bulk file download, email alerts, two-factor authentication, and announcement list. Casual users without technical training will find its UI intuitive and easy to navigate.
  13. rj data rooms. A good portal to share sensitive data like corporate secrets, client records, and project data. The system centralizes this information with permission control for internal and external users, including business partners and stakeholders. The notification alert for updated information is handy to keep everyone in the loop, especially during negotiations.
  14. Ruby Datum. What it lacks for mobile apps it makes up for being mobile-responsive with 100% uptime guarantee. It features smart virtual data rooms with advanced search algorithms and text recognition.

Find Out Which Virtual Data Room Software Fits

The irony in having a list of the 20 best virtual data room software systems is you can easily get overwhelmed with options. That said, while it is recommended that you try the software first before subscribing to its plan, it is not practical to try all twenty on our list.

Your next best step is to try the best platforms as well as those that can target your specific needs. In fact, you should start with our top choice here, then measure the other ranking apps against it. Our top app is Firmex because it packs powerful features into a well-designed and easy-to-use interface. You don’t need to be a security professional to make use of the program. This is thanks to an easy drag-and-drop interface. Plus, it has great upload speeds and tons of security.

Also, to help you keep abreast of all the internet and digital security happenings, we have compiled a list of 101 cybersecurity statistics for you. In it, we wager, you’ll find more reasons to adopt a virtual data room platform.

Lastly, if you have a tight budget, you can check out our top 12 free IT security software here.

Stephanie Seymour

By Stephanie Seymour

Stephanie Seymour is a senior business analyst and one of the crucial members of the FinancesOnline research team. She is a leading expert in the field of business intelligence and data science. She specializes in visual data discovery, cloud-based BI solutions, and big data analytics. She’s fascinated by how companies dealing with big data are increasingly embracing cloud business intelligence. In her software reviews, she always focuses on the aspects that let users share analytics and enhance findings with context.

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