About ForData VDR
ForData is a reliable and trusted provider of virtual data room systems. It is a cloud-based software solution that helps to share confidential documents securely with external parties. The company was founded in 2009 and is headquartered in Poznan, Poland. It was long considered the leading provider of VDR services in Central and Eastern Europe, but these days, ForData has customers in 93 countries with more than a thousand completed transactions.
ForData VDR specializes in facilitating transactions for mid-sized businesses in many different industries. Most companies use the VDR to facilitate due diligence, mergers & acquisitions (M&As), sales of batches of receivables, capital raising projects, audits, syndicated lending, and other projects from sectors such as energy, life sciences, and commercial real estate.
Document security
As one of the top VDR providers in Europe, ForData prioritizes control and confidentiality as key conditions for making a deal. This is why ForData implements bank-grade security mechanisms to make sure all information is well-protected. These measures include data encryption and compliance with GDPR, MAR, and MIFID, along with an overall holistic approach to security as such.
With the ForData VDR, businesses can feel confident sharing sensitive documents due to data encryption using a 256-bit algorithm. Sometimes, document control and user rights may fail, so another layer of security — two-factor authentication — can be provided to ensure fully authorized access.
One of those peculiarities that shows ForData’s consciousness about overall security is ISO 27001. This is a holistic approach to the security of the VDR platform, its customers, organizational processes, and legal and infrastructural requirements.
Moreso, the ForData VDR is recognized for its strict compliance with European Union regulations by MAR, MIFID, and financial institutions. To ensure that entrusted confidential data is protected, the ForData VDR acts in accordance with GDPR — the most restrictive privacy policy in Europe.
Collaboration and document management
Fordata VDR offers businesses the needed tools to properly manage their documents. With these management features, users have total control over their files.
Some of these features include:
- the “read-only” mode for protecting documents against unauthorized modification
- watermarks for protecting files from being copied, shared, downloaded, etc.
- access rights for restricting saving, printing, and any other actions
- anti-virus software for detecting potential threats to protect data
- print-screen block for making sure unwanted screens are not possible
- drag-and-drop functionality for uploading or downloading documents in bulk
Customer support
ForData VDR offers exceptional customer support in multiple languages. It ensures that every user, including clients’ guests, enjoy expert VDR support by communicating with a team of knowledgeable technical specialists.
With the help of the support team, all cases are dealt with proactively and instantly — ForData VDR guarantees a 15-second response time. Also, businesses and users can effectively manage data rooms due to the 24/7 customer support.
Additional features
The ForData virtual data room offers several other unique features. These include Q&A, data room customization, and artificial intelligence (AI).
The ForData virtual data room comes with a newly-designed interface that offers users the tools and details required for the self-configuration and operation of the system. Because the software is intuitive, admins won’t waste time studying its intricacies or customizing their data rooms.
Users have access to all necessary information on data room usage, which is easily accessible. Some options for self-configuration include personalization, default contents, and a Q&A module. Other features to enjoy are the new-user tutorials (Tooltips, Wizards), dashboards (VDR Management, Reports), and supporting descriptions for specific system functions.
Pricing plans
ForData Virtual Data Room Solutions offers three primary pricing models. These include:
- VDR Lite
VDR Lite is available as a monthly or yearly plan starting at $199 per month. It is mainly used for life science/clinical trials and audits. This virtual data room plan allows 15 users, but subscriptions can be modified to include additional users.
By default, this pricing plan comes with 1 GB of data, but additional storage can be purchased. Technical support for VDR Lite is available from 9:00-17:00 CET, with a response time within 3 hours.
- VDR Basic
VDR Basic is mainly used for due diligence and M&A. This plan requires, at minimum, a one-month subscription and is accessible by an unlimited number of users.
As compared to VDR Lite, the Basic plan offers a flexible data size, and support is available 24/7. Additionally, it comes with numerous helpful features, including a data room archive at the end of a transaction, advanced VDR management, and bulk document upload.
- VDR Pro
VDR Pro is used primarily for private equity and venture capital, but it is also commonly used for M&A, network organization, and commercial real estate. It comes with multiple secure data rooms but requires at least a one-year commitment. It’s accessible to an unlimited number of users and has a flexible data size. Some of the unique features of the ForData VDR Pro include bulk financial reporting, data room integration with clients’ websites, and long-term discounts.
ForData offers a 14-day free trial to potential subscribers. For more detailed information about VDR Basic and VDR Pro plans, contact a ForData sales representative.