Data Room Technologies for a Variety of Business Areas

Data room technologies allow many business fields to share documents securely during due diligence, M&As, partnering, asset sale and fundraising. These tools are frequently utilized by investment bankers, private equity managers, legal and accounting companies.

Modern data rooms run on cloud and offer security that is enterprise-grade even when accessed through a computer, tablet or smartphone. They also allow users to keep track of who is viewing what documents and for how long. They can also add customized watermarks that show a company’s logo or brand colors, as well as the terms of usage that all users must be able to agree to before printing or downloading documents.

Most modern data room vendors have a range features for the customization of the look and feel of virtual data rooms, such as drag-and-drop functionality. They can also include indexing to make it easy to navigate documents and seemingly analogous programs full-text search. They can also be used to keep track of which documents are viewed most and provide analytics reports to the manager.

Some of the most well-known providers of online data rooms are iDeals, Citrix and Datasite. All three have a solid reputation for security, with multiple layers of security. Citrix provides granular access permissions and multi-factor authentication, and Datasite lets you restrict access by time and IP address.

Other features common to many data room platforms are a unified interface for both mobile and desktop devices, an intuitive search engine, and advanced collaboration tools. These tools can help teams work more efficiently together, regardless of location or device. Users can also utilize tags and annotating functions to quickly share and locate 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.