Online data rooms are software platforms that aid businesses to store and share confidential documents during a transaction. They offer multiple layers of protection, such as a secure repository and strict permissions. They prevent leaks of information as a result. The best virtual data rooms provide easy collaboration and allow users to access the data on any device. They offer user interfaces that are easy to use, mobile apps, and multiple language support.
Most data room providers utilize cloud hosting and offer a variety of features for sharing documents securely that include a user-friendly login page, granular access rights and visual analytics. They also provide a variety of file formats and support for Microsoft Office integration, and unlimited storage space. Some even have world-class security certifications that include ISO 27001 and SSAE 16 Type II.
One of the most popular virtual data room providers is iDeals that comes with an intuitive user interface that supports up to 25 file types. It has a built-in document viewer that requires no plugins and allows users to scroll through documents with the keyboard or mouse. The platform also has no limitations on the number of projects that can be created or the number of users. It also offers a free trial, and there are no setup costs.
iDeals is suitable for businesses in the life science industry, particularly those involved in M&A activities or fundraising. It has features that help with due diligence and contract negotiation. Its advanced branding allows you to design your own About page, and change the color of your data room as well as its logo, and its insightful insight dashboards allow for efficient Q&A sessions. Its powerful search feature enables you to locate any document in a matter of seconds. It also comes with a drag-and-drop uploading option.