Cloud-based data rooms provide the user with a convenient virtual environment for storing and processing information, which combines hardware, software, communication channels, and technical support. This article is a comparative analysis of two data room software options – iDeals vs Brainloop.
Virtual data room as a software for business deal automation
The exchange of electronic documents is rapidly gaining a “critical mass”, which inevitably raises issues of protecting confidential information, in particular, personal data. Services provided electronically should be based on secure electronic document management. Thus, most companies today transfer their business activity into a secure collaborative environment provided by virtual data room software.
A virtual data room (VDR) is an online security data repository in which information is stored and exchanged during business transactions. By using this software, the company is guaranteed a reduction in corporate data loss incidents, detailed reports using scheduled company data usage, a single web-based interface for managing all these functions: data backup, data protection on mobile devices, multi-user work via documents.
Modern VDR systems provide virtually unlimited storage space for files of various formats. You can upload document templates, terms of reference, layouts, presentations to the system. Of the advantages, there is also transparency – you can see all the working changes, details, status of the task, and the project as a whole. And since all data is stored in the cloud, you can work with it from anywhere in the world.
iDeals vs Brainloop Secure DataRoom: what is suitable for you?
Choosing a virtual data room may not be easy. By the way, the choice should be taken seriously, because it may also affect your relationship with partners. So, here we offer a comparative review of two leading software solutions in the marketplace – iDeals and Brainloop.
iDeals is a secure data room, which is positioned for almost all spheres of businesses including real-estate, M&A transactions, due diligence, biotech, pharmacy, etc. The software speeds up the upload process with direct access to files on USB sticks, CDs, local and network drives, as well as email attachments. The ability to quickly drag and drop multiple files and entire folder and subfolder structures, regardless of size, with the VDR is a significant time-saver, but not a universal feature in the VDR market. Drag-and-drop features and setup wizards make it quick and easy to create file and folder structures, add users, and set permissions.
Besides, iDeals VDR offers three protection options that can be applied at the folder and document levels. “Do not protect” allows printing and downloading a document. “Protect” restricts users’ ability to download and share a testimonial. “Protect and prevent printing” is the highest level of protection that prevents printing and further downloading of the document.
- Brainloop Secure DataRoom
Brainloop data room is suitable for securely sharing documents and as a communication platform between internal and external employees. With the new Secure Document Viewer module, Brainloop provides end-to-end security for confidential MS Office and PDF documents. Server-side rendering makes it possible to display document content in sub-images. Brainloop’s security architecture and the audit-proof traceability of all processes in the data room ensure compliance with modern compliance regulations and corporate governance guidelines.
A free test version is available, but it is unclear how long this is valid and which version of the data room you can test. The training options at Brainloop, on the other hand, are diverse: documentation, web seminars, live web, or in person. In addition, support is available 24/7.