Today’s business challenges include privacy threats and lack of speed. Even with the advent of the internet, sometimes companies fail to manage a deal or other transaction because they choose platforms that are not completely secure. The best option for secure and efficient transaction conclusions is a virtual data room. Most companies understand this and actively use them in their systems. The VDR market is very large, and it can be difficult to choose your provider. In this article, we will take a look at one of the best VDR options – DealRoom and examine its features
DealRoom – General Description
DealRoom was developed and launched out of Chicago USA in 2013. This provider is among a number of new ones, as the company started from scratch, rather than being repurchased and remade by major corporations. Due to this fact, some may consider the provider too “green” and inexperienced, but DealRoom is an established data room provider on par with more experienced competitors. This provider provides a feature-rich solution that focuses mainly on providing services during mergers and acquisitions, and we should mention that its price is fully commensurate with its high quality.
DealRoom VDR works with medium and large businesses and is able to simplify and speed up M&A transactions, no matter what industry you are in. VDR is able to find an individual approach for each client at every stage of a transaction. Users note the program’s modern interface and its useful collaboration tools, but beyond that, DealRoom has many other advantages.
Key features and functions of DealRoom
Because Dealroom VDR is completely focused on helping your business with transactions, it provides relevant features that simplify your workflow and increase the efficiency of the transaction process:
- Workflow Management – The deal manager will always stay on top of what’s happening within the vdr space. The solution gives you automatic reports on the detailed actions of all users so you can monitor the level of interest in a deal, a timeline of multiple deals so you can seamlessly manage multiple projects simultaneously, and pipeline management
- Manage due diligence – DealRoom has out-of-the-box customizable templates and provides all the advanced security features to keep your sensitive data intact
- Integration – In addition to being able to track actions, DealRoom helps you identify synergy opportunities and integrates with useful business tools like GSuite or Slack
- Document management – use the drag-and-drop feature to quickly load data into the space, as well as the smart search feature to quickly find the files you need
- Four permission levels – these role-based permission levels allow the company manager to define clear boundaries between their employees and potential customers and limit their options by virtue of their authority
DealRoom Pricing
Dealroom pricing is based on three rates offered, giving the customer an extensive choice. So, the provider offers you three plans Single Room, Professional, and Enterprise. Also, customers have a choice of payment frequency: either monthly or once a year. You can also contact the provider in order to request some individual solutions to your plan. More details about the fixed rates:
- Single Room – will cost you $1,000 per month, but you have to pay a yearly fee to use this plan. For this price, you get space for one project, 5 GB of storage, and unlimited users
- Professional – $3,000 per month which gets you 20 GB of storage, unlimited users and projects, and pipeline management
- Enterprise – Check with your vendor for pricing. This plan offers fully customizable space and 50GB of free space, with no restrictions