Selecting the best virtual data room software provider is dependent on the kind of project and business process. The top-rated software allows for simple collaboration among parties, provide easy file sharing across different platforms, and support a wide range of formats for documents. A quality VDR will also include specific reporting features as well as data security. It should provide a user-friendly interface that is equally easy for the CFO and accountants who are just a knockout post beginning their careers. It can also offer an option for pricing that is flexible, such as per-storage, per-user, or per-page.

Law firms and legal services businesses require a secure virtual data room system that complies with strict rules, enables collaboration between attorneys and clients, and offers a secure platform for storing and sharing sensitive files. They should be able track the user and document activities and set up custom permissions and access reports on the use of data.

Investment banks require a data room solution that will facilitate collaboration between teams and provide an encrypted platform for high-risk transactions. They should be able to manage due diligence, provide targets to investors, and assist with the post-transaction integration.

FirmRoom is among the newest players in the VDR market, but they are already gaining traction among users like Pfizer and Baird. The software is modern minimalist design with an easy-to-use interface. It has a broad range of features to suit different needs, such security measures like fence view and remote wiping.