What is ForData?

ForData software is the top-ranked virtual data room in Central and Eastern Europe headquartered in Poznań, Poland. The provider’s services help clients with due diligence, mergers and acquisitions, syndicated loan, capital raising process, and the sale of receivables.

With a ForData virtual data room, you can securely share confidential documents with financial institutions, advisors, and investors. Additionally, you take care of your business partners’ work comfort, providing them with a robust platform and protected collaboration.

ForData features

A ForData VDR prioritizes the user’s peace of mind and high-speed performance through the following tools:

  • Advanced document security. This option includes access control for saving and printing data, protection against selections and copying of parts of the content, dynamic watermarks, and screen capture. What is more, the program does not store users’ browsing history and scans all uploaded files for viruses.
  • Support for over 30 file formats. The data room supports and protects more than 30 file formats. These include PDF documents, MS Office files, and other specialized formats.
  • Easy management of user rights. Admins can manage user permissions at the group or individual level. These settings can be modified during the course of a deal. It is also possible to deny access to a user or group for a certain period.
  • Bulk tools to speed up your work. Bulk upload and download are available. Another convenient time-saving feature is bulk account creation using the Copy settings to a new group option.
  • Detailed activity reports. Activity logs contain information about user activity, logins, most-viewed documents, and unopened files. All this information can be automatically generated in an insightful activity report.
  • Makes work more convenient. You can create private notes, mark unread files, tag documents, or participate in discussions. The program automatically sends notifications about new files in a virtual workspace.

Since ForData solutions are often used for time-sensitive transactions, the provider continues to improve and adjust its offers to meet the demands of the modern world. This is why in May 2021, the company introduced the updated VDR 5.0 system. 

This version’s fundamental difference lies in the implementation of SPA (single-page application). This system does not require loading a new page when switching to another tab. Another advantage is loading the views into one window, which makes using cache more convenient.

ForData’s founders believe that the introduction of VDR 5.0. makes the platform more efficient and easier to use. This differentiates ForData from its competitors. 

ForData pricing

ForData offers three pricing plans — Lite, Basic, and Pro.

  • Lite is best suited for auditing, clinical trials, and the life sciences. This plan permits 15 users, 1 GB of data storage capacity, and 1 project. The minimum usage period is one month. Technical support is available from 09:00-17:00 CET. The plan costs 165 Euros a month, but the provider offers a 20% discount if paid annually.
  • The Basic plan most suits due diligence and mergers and acquisitions. It features flexible data storage, an unlimited number of users, and 24/7 support. There is no information on the official website about the ForData data room cost, but you can contact the sales department for details.
  • VDR PRO is designed for long-term cooperation for private equity, venture capital, commercial real estate, and network organizations. When comparing the PRO and Basic plans, you’ll notice that the former allows multiple data rooms simultaneously, connects all virtual workspaces, and carries out bulk financial reporting. Contact ForData’s sales representatives for a personalized quote.

It is also worth noting that the company accepts transfers in PLN and EUR. Card payments are not available yet.

ForData free trial

For each subscription plan, the provider offers a free 14-day trial. Contact the vendor for more details.

ForData support and deployment

ForData’s technical support is available 24/7. They boast a 15-second response time for phone calls. According to the provider, they solve about 95% of problems during the first call.

ForData is available as a SaaS solution and Android app. Android users can enjoy a comprehensive set of features, including viewing and printing PDF files, switching between vertical and horizontal scrolling, and a comprehensive search function.