Online data rooms are software platforms that allow businesses to store and share confidential documents during a transaction. They offer multiple layers of security protection that include a secure repository, strict permissions, and audit logs. They prevent data leaks as a result. The best virtual data rooms facilitate collaboration with ease and allow users to access their data from any device. They have intuitive user interfaces and mobile apps.
Most data room providers utilize cloud hosting and provide an array of options for secure sharing of documents such as a user-specific login page, granular access rights and visual analytics. They also include a variety of file formats and support for Microsoft Office integration, and unlimited storage space. Some are secured by top-of-the-line security like ISO 27001, SSAE 16 Type II, and HIPAA certifications.
iDeals is one of the most well-known providers of virtual data rooms. It has a user-friendly interface and supports 25 file types. It has a built-in document viewer that does not require plugins, and allows you to scroll through documents using the mouse or keyboard. The platform has no limitations on the number of users or of projects. It also offers a free trial and no setup charges.
iDeals is a great tool for businesses in the life sciences sector, especially those involved in M&A or fundraising. It features features that assist with due diligence and contract negotiation. Its advanced branding lets you to create a customized About page, alter the color of the data room and logo, and its nifty insight dashboards facilitate efficient Q&A sessions. Its search capabilities let you locate any document in seconds, and it has the ability to upload files using drag-and-drop.