Smartroom is quite bold about its software on its website. This provider advertises itself as not just a good data room, but the best one. It claims that Smartroom is faster and more robust, and offers the speed, security, and service no one else can compete with. And once you look into the customers, the vendor is bragging about seeing quite well-known brands. Does that mean Smartroom is as good as it claims to be? Let’s see if this data room can fit your needs.
Smartroom is a versatile data room. The customers of this provider are using it for:
- Mergers and Acquisitions
- Structured finance
- Restructuring and bankruptcy
- Corporate management
Smartroom Virtual Data Room Review
This data room was created by BMC Group — a provider of various business solutions that operates since 1998. Smartroom was intended as a next-generation content management platform, and its creators worked on it in partnership with IBM’s M&A Accelerator. The result is a data room used for various business processes from due diligence and mergers and acquisitions to fundraising and other document-heavy events.
Smartroom has seven offices across the United States, one in London, and five in Asia’s different spots. Thus, it should be relatively effortless for this provider to offer reliable round-the-clock support for customers from around the world.
Smartroom provides users with all the essential features:
- Document maintenance and exchange
- Remote detonate of uploaded and downloaded files
- Upload via email
- Reports and alerts
- Granular permissions
To be fair, it’s hard to find some unique features in this data room. Smartroom seems to be a straightforward tool when it comes to the set of functions. Here you’ll have the opportunity to manage user rights down to a single document, work with files within the data room, and sign papers with an electronic signature. Reports and alerts are customizable, and you can use them to monitor the activity of invited parties in your data room. And a Q&A section will be a useful source of information for potential buyers, partners, and investors during deals.
It’s strange that with all those loud names listed among the customers on the website, Smartroom doesn’t have many client reviews online. Usually, the more popular the data room is, the more reviews it gets. But it took us a while to find any. Customers give Smartroom from four to five start telling that it’s a decent data room. Some users mentioned that they’ve outgrown this software and are looking for a more advanced solution.