Data room software, as its name implies, is designed to save documents that are confidential and used in business transactions. The documents are usually valuable and requires secure access to keep competitors from getting it. To accomplish this, the most trusted vendors in this area provide features such as multi-factor authentication as well as granular user permissions for users and advanced IRM to guard the information from unauthorized use. They also offer features such as mobile device management, user security impersonation and activity monitoring to observe the activities of users.
The best virtual datarooms are designed to support the most critical business processes, and are optimized to work with a variety of platforms and devices, including tablets and desktops. They also permit seamless integration with other apps such as email and chat. They are available in hybrid, on-premise, cloud and cloud deployment models that can be adapted to various workflows. The software is easy to install and designed to simplify procedures, which makes it suitable for small and mid-sized companies that need simplicity and functionality.
A few of the most highly-rated data rooms are Intralinks Virtual Data Room, iDeals Solutions and Datasite. They provide a range of business-critical capabilities that are suitable for M&A, capital market transactions, due diligence and other important transaction processes. Intralinks enables dealmaking efficiency through an online platform that provides high-stakes storage, file-level security, centralized administration control, and a simplified access through an IRM that is robust and secure. It includes a multi-lingual 24/7 support line, pre-configured solution templates, and an intralinks creator that can help accelerate project starts ups and the best practice implementation.