Data room technology allows many business fields to share documents securely during due diligence, M&As, partnership, asset sale and fundraising. These tools are commonly utilized by investment bankers, private equity managers, accounting and legal companies.
Modern data rooms are cloud-based and offer security that is enterprise-grade even when accessed via your personal computer, tablet or mobile phone. Users can also track who has viewed what documents and for how long. They can also contain watermarks with custom watermarks, which display the colors and logo of a company’s logo, and include conditions of use that all users must accept before downloading or printing documents.
Modern data room providers provide an array of features that allow users to personalize the look and feel of their virtual data rooms. These include drag-and drop functionality. They can also include indexing, which makes navigation of documents easier and full-text search. They can be used to monitor the most popular documents and provide analytics reports to managers.
iDeals Citrix, and Datasite are among the most popular online data room vendors. They all have a strong reputation for security, and have multiple layers of protection. Citrix provides granular access permissions and multi-factor authentication, while Datasite allows you to restrict access according to time and IP address.
Other features that are common to the majority of data room platforms include unidirectional interfaces for mobile and desktop devices, an intuitive search engine and advanced collaboration tools. They can help teams collaborate more effectively regardless of their location or device. Users can also make use of tags and annotating functions to quickly locate and share important documents. They can also take advantage of the redaction capabilities that many modern data rooms offer, which black out portions of files so that personally-identifiable information stays private.