Data room technology allows a wide range of business fields to share documents securely during due diligence, mergers and acquisitions, partnership, asset sale and fundraising. These tools are commonly employed by investment bankers private equity managers, legal and accounting firms.
Modern data rooms run on cloud and provide enterprise-grade security, even when accessed from the computer, tablet or smartphone. They also let users monitor who is viewing what documents and how long. They can also incorporate custom watermarks that display the logo of a company or its colors, as well as terms of usage that all users have to be able to agree to before printing or downloading documents.
Modern data room vendors provide an array of features that allow users to alter the appearance and feel of their virtual data rooms. These include drag-and-drop functionality. They can also include indexing to make it easy to navigate documents and full-text search. They can be used to monitor the most popular documents and generate analytics reports to managers.
Some of the most popular companies that offer online data rooms include iDeals, Citrix and Datasite. Each of them has a strong reputation for security and offer several layers of security. For instance, iDeals offers multi-factor authentication and granular permissions while Citrix includes a security feature for users. impersonation function, and Datasite allows you to restrict access based on IP address.
Many data rooms provide a single user interface for desktops as well as mobile 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 utilize the functions of tagging and annotating to quickly locate and share important documents. 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.