DealRoom

While this solution might seem limited, it works great for individuals and firms that operate with M&A. Since the provider concentrates only on one kind of business processes, the software is simple and rapid. DealRoom claims to speed up the mergers and acquisitions by 40% and lower the costs spent on the deal by the half.

This M&A platform works not as just a virtual repository, but as a project management system that offers everything a business needs during the deal. Additionally, it is a boutique company which means that due to the limited number of clients every user can get the help they need.

Customers tell that the support team resolves issues within 24-48 hours. The CEO reads user tickets and sometimes responds and helps personally. If clients feel that the system lack certain features, they can contact the support and directly ask to implement the needed functions. If they are indeed useful, DealRoom will add them to the system.

Such a personalized approach isn’t something you can meet every day. And since the provider focuses just on M&A and listens to all the proposals and issues clients have, the platform becomes more advanced all the time. In addition to the secure virtual repository for the documents, DealRoom offers tools for the communication. Participants of the M&A process can write requests to each other with questions and proposals.

Also, DealRoom has an absolutely unique instrument no other virtual data room providers offer – the task tracking feature. It is extremely useful to control the performance of the company during the deal. And since all tasks are in the data room, there is no chance someone will forget about something.

All the data about performance and the progress of the deal, in general, is organized into neat statistics. Users can export them as Google Sheets or in CSV format. Studying these reports can bring many useful insights on how to improve the workflow and make things work more efficiently.

Among other advantages of DealRoom are the high download and upload speeds. You won’t have to wait for an eternity to get your files online or to receive them to your computer. The loading speed of pages is also significantly faster than in cases with other providers. And the Q&A section is easy to use and has indicators that show which questions were answers, and which ones are still waiting for the reply.

But nothing is perfect, and DealRoom is not an exception. Users have some issues with downloaded files – first of all, it’s unclear how to attach the document number to the file. Also, there are no upload dates of files in the exported index.

As well as other VDRs, DealRoom allows controlling the level of access users have. This feature is very precise – managers can set permissions even for a single document. However, some users wish that the software allowed several admins for one deal.