An online data room review is the method of analyzing the features provided by an electronic data room to determine whether they suit a company’s needs. It involves evaluating features, security standards and pricing to find the most effective VDR. It also comes with a free trial so that companies can test the software before making a purchase.

The benefits of an online data room include secure access control and sharing of documents as well as centralized collaboration and communication and a user-friendly interface. They also lower costs compared to physical data rooms by removing the requirement of renting physical space as well as hiring security for physical access. Online data rooms are particularly well-liked by M&A transactions because they provide an environment that is secure for the examination of sensitive information.

Sharevault is among the most popular virtual rooms on the market. It provides bank-grade security and a user-group management system that is intuitive. It also provides helpful data analysis. This option is ideal for mergers and purchases due diligence and financial transactions. It is available with a free two-week trial.

Firmex is another highly recommended option. It streamlines mission-critical tasks like due diligence and asset management, among other procedures for both large and small companies. Firmex offers a clear and simple interface, as well as visual analytics, customizable security settings, and sophisticated Q&A tools. It is ideal for M&A and can be customized to fit the needs of a project. SOC 2, HIPAA and DRM are among its most textiles advanced security features. It also offers an option to price based on quotes, as well as an initial two-week trial.