To streamline and universalize the work of large businesses, company executives are increasingly using innovative virtual data rooms. These are special cloud storage facilities that allow collecting, organizing, and storing all the necessary information.
Merrill Data Room will be such a virtual storage platform. Merrill Virtual Data Rooms provide all the necessary VDR features, including a FAQ section, bulk uploads, drag-and-drop functionality, a branded website, and more. They also allow you to upload archived files up to 50 GB in size, and so on.
However, it’s worth taking a closer look at which companies are best suited to the functionality of this portal, as well as the pros and cons of the Merrill platform. Let’s talk about all this further.
Understanding the Purpose of Merrill Data Rooms
Merrill’s virtual data room is a special cloud-based platform designed to facilitate the company’s work, due diligence, and post-merger integration. This online data room is uniquely designed for each client so that the client can easily navigate the virtual deal room.
Merrill is a well-known player in the virtual environment market. For example, Hilary Morrison, Vice President of Capstone Partners, said this about the cooperation: “Datasite has made the process much more efficient. If you have to send out 200 CIMs and watermark each one, you can do it in one click”.
Importantly, all of Merrill’s data rooms offer fast performance, easy navigation of the environment, and secure document sharing with clients or other users outside the company.
The Pros and Cons of Using Merrill Data Rooms for Your Business
Like every platform, the Merrill virtual room will have its own features, strengths, and weaknesses. We will discuss the Merrill data room pros and cons in more detail below.
Pros:
- High-level security features for sensitive information
To ensure that the company’s team has no concerns about the security and confidentiality of information, Merrill uses innovative security technologies, including ISO, data encryption, single sign-on (SSO), multi-factor authentication (MFA), and information rights management (IRM). All of these contribute to secure file-sharing solutions both within the system and between other users.
- User-friendly interface and easy navigation
A detailed Merrill data room review shows that the platform’s interface is user-friendly and clear, which customers will notice immediately. This is a very important factor as it allows users to quickly understand the functionality offered by the company. The platform is as convenient and intuitive as possible, even for a new user.
- Robust access controls and permissions management
Only users with owner rights can change the status of other clients, grant access to view a file, or, conversely, remove a user from the system. This is very convenient as a business team can independently manage access to all information without worrying about its confidentiality.
- Audit trail for tracking document activities
Any manipulations with documents or text editing is reflected in a special audit trail. This allows team leaders to easily track who made changes to the document and when.
- 24/7 customer support and assistance
A virtual data room comparison with other similar platforms showed that not every company has to worry about providing round-the-clock support to its clients. However, Merrill has no such problems. Here, users can contact the technical support team 24/7/365. They support communication in 20 languages, so you can conveniently get advice and answers to any question you may have.
Cons:
- Expensive pricing plans compared to alternatives in the market
Compared to other market players, Merrill has a rather high price for its services. However, at the same time, you get a high-quality multifunctional platform that will help you to organize the company’s workflow and increase the overall efficiency of the team. At the same time, a potential client can contact the Merrill team, request a quote, and request permission to use the portal’s demo version for review.
- Limited customization options for branding purposes
The client’s company will not be able to customize the interface or internal presentation of the virtual room according to the trendy needs of the business. In other words, the user is presented with one version of the main page that cannot be changed.
- Dated user interface that lacks modern design elements
Some users may note that the platform’s user interface is somewhat outdated and less relevant than, for example, the interfaces of other virtual room providers. However, even if the design of the virtual room lacks visual elements for a more modern look, the company compensates for it with high-quality functionality and content.