Online data rooms are software platforms that help businesses store and distribute confidential documentation during a transaction. They provide several layers of security, such as an encrypted repository and strict permissions. This means they assist in preventing leaks of data. The best virtual data rooms provide easy collaboration and allow users to access the data from any device. They provide user-friendly interfaces and mobile apps.
Most online data rooms use cloud hosting. They provide a range of features to protect document sharing. They include granular permissions and visual analytics. They also provide a range of formats for documents, Microsoft Office integration and unlimited storage. Some are protected by world-class security standards including ISO 27001, SSAE 16 Type II and HIPAA certifications.
One of the most well-known virtual data room providers is iDeals which comes with an intuitive user interface and supports up to 25 different file types. It comes with a built-in file viewer that doesn’t require plugins, and permits you to scroll through documents using the mouse or keyboard. The platform also has no limitations on the number projects it can host or the number of users. It also offers a no-cost trial and no setup charges.
iDeals is suitable for businesses in the life science industry, particularly those involved in M&A activities or fundraising. It provides features that ease due diligence and contract negotiations. Its advanced branding feature lets you create a custom About page, and also change the color of the data room as well as its logo. Its informative insight dashboards are designed to facilitate efficient Q&A sessions. Its powerful search feature allows you to locate any file in a matter of seconds. It also has the option of uploading by drag-and-drop.
