The main characteristic of VDRs is their security, which makes them a better choice for handling large-scale business transactions over traditional cloud storage solutions. However the reality is that the VDR is more than an efficient storage solution that is secure: it offers a broad range of collaboration tools and features which improve the workflow of any project and speed up the process of making decisions. VDRs can, for instance, enable collaboration with ease through Q&A sections and comments modules that boost productivity and help resolve problems faster. Additionally, they offer comprehensive monitoring of activity in the data room which can be a real benefit for projects that involve multiple parties.

Another great feature of VDRs is the capability to modify their interfaces to fit with the corporate branding to provide a smooth user experience. Most modern providers offer a free demo so you can try the platform to determine if it meets your needs before signing up. Before making a final decision it is advised to look at both external and internal reviews of data rooms and reviews on third-party sites, like Trustpilot and Software Advice.

Firmex is among the leading providers of virtual datarooms. Its client list includes top names such as Deloitte, Good Year and numerous others. Firmex offers a complete collection of tools for collaboration, including visual analytics, which are used for M&A and compliance processes, and due diligence. Its unique and scalable platform permits users to upload and manage information easily and also restrict access to particular documents. It also offers custom pricing and excellent customer service.