The most effective data room is one that works as a collaboration tool that offers security and flexible content sharing. Box, iDeals and SecureDocs are some of the most well-known options. They claim to provide the simplest user interfaces, as well as 24/7 customer service. They also do not offer the features essential for document sharing in secluded workplaces, such as the ability to customize settings and an audit trail.
Many M&A transactions require a huge number of documents that must be reviewed by dozens of parties. To prevent security breaches or compliancy violations companies must provide external parties an environment that is secure and where they can easily look over the confidential data. This is where a virtual data room (VDR) comes in.
A VDR allows you to share data room online info data in a secure manner with multiple parties, while restricting their ability to access specific folders or files. Permissions can be set granularly depending on roles and phases. A VDR’s audit log shows who has accessed the documents and what actions were taken within the platform.
A renowned VDR provider, iDeals, offers simple but powerful tools that are ideal for M&A due diligence as well as other document sharing purposes. It has an easy-to-use platform that has a quick adoption curve that lets users quickly get acquainted with its capabilities. It supports a variety of file formats and offers a flexible pricing model. Uploads via drag-and-drop are also possible. Its security features include a two-step verification process, as well as data encryption. All plans come with a 14-day trial for no cost.