A digital data room is an online secure location where companies can store and share confidential documents. They are commonly used in the M&A process to facilitate collaboration as well as accelerate due diligence, and improve visibility of documents. Digital data rooms are now popular in the business world in large part because they’re much more secure than traditional tools for sharing files. They can be setup in minutes.
iDeals, an extremely rated VDR known for its security. It holds ISO 27081 certification, multiple layers of protection including physical and application security, as well as data management, and is ISO 27081 certified. The platform has a central repository with customizable tagging and folder structure auto-indexing, two-factor authentication, 256-bit encryption, digital watermarks and an advanced search feature that is superior to traditional file-based searches. It comes with a variety of support options, including consulting, training and 24-hour customer assistance.
Another highly-rated virtual data room is CapLinked, which was designed to simplify secure document sharing and collaboration. The platform offers a variety of specific features that are designed to aid in the M&A process, such as a customizable virtual data room layout, a one-click NDA and e-signature option as well as advanced reporting. It also provides device-agnostic sync and support 24×7, as well as various APIs.
Additionally, ContractZen is a cloud-based VDR solution that combines simplicity and efficiency with high-end security to streamline M&A and business process management. The platform has a streamlined user interface that offers intelligent insights and search capabilities which can be tailored to specific users, and group discussions timelines to help control workflow. It supports a variety of formats for files, has an unlimited storage capacity, and is easy to integrate into workflows.