Data Room Technologies for a Variety of Business Areas
Data room technology allows an array of industries to share documents securely during due diligence, M&As partnerships, asset sales and fundraising. These tools are commonly utilized by investment bankers, private equity managers, accounting and legal companies.
Modern data rooms are cloud-based and provide enterprise-grade security even when accessed via your personal computer, tablet or mobile phone. They also allow users to determine who has access to what files and for how long. They can also include customized watermarks that show a company’s logo or brand colors, as well a set of terms of usage that all users must accept prior to printing or downloading documents.
Most modern data room vendors also offer a range of options for customizing the look and feel straight from the source of their virtual data rooms, including drag and drop functionality. They can also include indexing to make navigation between documents easier and full-text search. They can be used to monitor which documents are most frequently viewed and provide analytics reports to the manager.
iDeals Citrix, and Datasite are some of the most popular online data room providers. All three have a solid reputation for security and numerous layers of protection. For example, iDeals offers multi-factor authentication and granular authorizations. Citrix offers a user security impersonation feature, and Datasite allows you to limit access by time and IP address.
Many data room platforms offer a unified user interface for desktops and mobile devices, as well as an intuitive search engine and advanced collaboration tools. These tools allow teams to work more efficiently together, regardless of location or device. Users can also use the annotation and tagging functions to quickly locate important documents and share them with other users. 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.