Data Room Technologies for a Variety of Business Areas
Data room technologies permit a variety of business areas to share documents securely during due diligence, M&A, partnering, fundraising and asset sales. These tools are commonly utilized by investment bankers, private equity managers, accounting and legal firms.
Modern data rooms are cloud-based and offer enterprise-grade security even when accessing them via personal computers, tablets or mobile phone. Users can also track who has viewed which documents and how long. They can also add customized watermarks that show the logo of a business or brand colors, and conditions of use that all users have to accept prior to downloading documents or printing them.
Modern data room vendors provide an array of features that allow users to customize the look and feel of their virtual data rooms. These include drag-and drop functionality. They also can feature indexing to make it easy to navigate documents and full-text search. They can be used to track the most popular documents and generate analytics reports for management.
Some of the most well-known vendors for online data rooms are iDeals, Citrix and Datasite. All three have a solid reputation for security, with multiple layers of protection. For example, iDeals offers multi-factor authentication and granular access rights. Citrix includes a security feature for users. impersonation feature, and Datasite allows you to limit access to users based on time and IP address.
Many data room platforms offer a unified user interface for desktop and mobile devices, as well as an intuitive search engine and advanced collaboration tools. These tools allow teams to work more efficiently regardless of the location or device. Users can also utilize the tagging and annotation functions to quickly find important documents and share them with others. 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.