Data room technologies allow a wide range of industries to securely share documents during due diligence, mergers and acquisitions, partnering, asset sale and fundraising. These tools are often employed by investment bankers private equity managers, legal and accounting companies.
Modern data room vendors offer an array of features that allow users to customize the look and feel of their virtual data rooms. They include drag-and-drop capabilities. They also have indexing to make navigation between documents simpler and easier to search using full-text. They can be used to determine the most popular documents and provide analytics reports to the management.
iDeals Citrix, and Datasite are among the most popular online data room providers. They all have a great reputation for access security with several layers of protection. Citrix offers granular permissions and multi-factor authentication, and Datasite lets you restrict access according to time and IP address.
Other features common to many data room platforms are unidirectional interfaces for mobile and desktop devices, an intuitive search engine, and advanced collaboration tools. These features can help teams collaborate more efficiently, regardless of the location or device. Users can also use the annotation and tagging functions to quickly find important documents and share them with others. 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.