Online data rooms are software platforms that assist businesses store and distribute confidential documents during a transaction. They offer several layers of security that include a secure repository and strict permissions. As a result, they aid in preventing data leaks. The most secure virtual data rooms also allow for easy collaboration and access to data from any device. They offer user-friendly interfaces, mobile apps, and multiple languages of support.
Most online data rooms use cloud hosting. They offer a variety of security features for document sharing. They offer granular permissions and visual analytics. They also offer a range of formats for documents, Microsoft Office integration and unlimited storage. Some of them are protected by top security standards including ISO 27001, SSAE 16 Type II and HIPAA certifications.
One of the most well-known virtual data room providers is iDeals that comes with an intuitive user interface that supports up to 25 file types. It comes with a built-in file viewer that does not require plugins, and allows you to browse through documents using the keyboard or mouse. The platform does not place limits in terms of the number or users of projects. Additionally, it has a trial period for free, without setup fees, and supports multiple languages.
iDeals is suitable for business in the life sciences industry, particularly those involved in M&A activities or fundraising. It has features that aid in due diligence and contract negotiations. Its advanced branding allows you to design your own About page, and change the color of the data room and logo and its insightful insight dashboards make for effective Q&A sessions. Its powerful search feature lets you locate any document in seconds, and it also has an easy drag-and drop uploading capability.
