How to Choose a Virtual Data Room for Your Business in the UK
By choosing a good data room software provider, you can forget about technical problems and system failures, and you are guaranteed to get well-coordinated work with the proper level of security. A trusty provider is the guarantor of the safety and reliability of your business.
If you work with vast amounts of information and then expose it to audits or other enterprises, like many in the UK, browse through the best data room providers and optimize your business.
Common Data Rooms Features
Almost every virtual data room comes with the same basic set of features that contribute to better task management and improve information processing speed.
- document management;
- full-text searching;
- real-time reporting;
- data security.
Document management works on all data room services. Convenient file sharing and different access levels are available for the administrator. However, they choose what each user can see, download or save.
The second function is a search by text in a document, regardless of its format. It allows you to search for the desired word, column, or phrase in two clicks. Real-time publishing is also practical, where the client can show the schedule of the next meeting or publish the desired recording at the scheduled time.
The Most Typical Features To Pay Attention To
When choosing a provider, pay attention to security. Every company needs to guarantee that its information will not be compromised in any case. make sure the online data room software you choose uses at least two-factor authentication.
Also, consider the estimated amount of stored information on the server. If your business is just starting to grow, choosing a cheaper plan with smaller space may be worth it. But you will need more room one day, and the VDR you select should have a package that offers enough space. So, good luck in choosing the best data room provider.
In addition to security, pay attention to document control. Some VDRs may restrict the ability to download the Microsoft 365 Safe Viewer. So think about it. Maybe you need a more complex provider with additional protection.
Another key factor is support service. If clients complain about frequent failures, and the provider takes a while to respond, consider other virtual data rooms. If you have a problem with accessing the VDR, it is crucial to get it solved as quickly as possible.
Leading UK Data Room Providers
Take a look at some of the top providers in the UK. These are affordable solutions for small and medium-sized businesses, offering different subscription packages. And here is a brief overview of them.
iDeals
Among the critical aspects of iDeals, one can single out a free trial, which is not a common feature when choosing an electronic data room. The provider lets you explore the strengths and weaknesses of the product yourself.
In addition, there is a round-the-clock support service not only online but also with live communication, which can be very useful in case of complex problems, failures, or a need for advice.
The system supports SSL security certificates. You can also work on iOS, Android, Windows, and macO platforms. An automatic backup and legal forms library are the key features.
Intralinks
In general, this data room software provider has fewer features but is also designed for all types of businesses (small, medium, and large), like the previous one. It lacks the possibility of online support and a free trial. Unlike the previous version, there is no way to work with macOS. However, the price is more favorable. File recovery and deal-centric workspaces are the main features.
DataSite (Merrill)
DataSite is great for such tasks, as activity tracking and audits. There is also no free trial, but it is affordable for medium and large businesses. You can use it only via Android or Windows from any device.
Conclusion
We recommend that you only consider the best data rooms for your business, but it’s up to you to decide. If you do not mind a budget solution, then feel free to evaluate their strengths and weaknesses as well.
You can learn more about data rooms at datarooms.org.uk.