A virtual data room (VDR) simplifies vital, complex transactions and diligence processes for startups. There are a variety of VDR providers, so picking the best one requires careful consideration of the most important factors. These include collaboration and security, analytics and price. This article outlines the best options for small businesses that place a high value on secure data sharing and file sharing.
iDeals VDR is a security-first service that lets dealmakers share confidential files throughout the M&A cycle. The platform is supported by ISO 27001 certification and features two-factor authentication, session timeouts, location restrictions and granular user access rights. The software also supports watermarking, view-only modes, and screenshot blocking to stop unauthorised sharing of documents. iDeals provides customizable NDAs as well as an integrated worksheet viewer and drag-and drop uploads.
iDeals not only provides advanced reporting and granular access control as well as an easy and intuitive interface that is familiar to both the CFO as well as the entry level accountant. It can be tailored to meet the branding of a startup and needs.
Another good option for startups is Portalstack which offers a range of tools to help improve due diligence and M&A activities. This includes integrated Google Sheets, which lets companies easily share financial models and cap tables. It also supports electronic signatures, which eliminates the requirement to integrate an eSignature software from a third party. The price starts at $39 per month and includes unlimited electronic signatures that can save a business cost on administrative overhead and costs. The free trial gives users the chance to test the platform, experience virtual meetings with investors and understand how documents are organized before making a decision.