If your company is involved in M&A or other sensitive business processes, you’ll need secure data room providers to guard confidential documents from being read by unauthorized individuals. These are certified vendors that provide software-as-a-service that complies with digital standards for document storage and file sharing. They also offer a variety of tools to help your M&A process from due diligence to closing the deal, including e-signature solutions.
Certain VDRs specialize in certain sectors. For instance, iDeals is widely used by life sciences companies as well as M&A advisors for due diligence. Similarly, CapLinked is a good choice for asset sales as well as real estate transactions and fundraising.
Compare the features of different secure data rooms to compare the features of different secure data. You should look for one that lets you monitor who is using your documents and when. Some data room providers have the ability to watermark documents, block screen shots and block downloads to limit the risk. They also include security timeouts, granular user settings, and other features to improve data security. Digify, for example, prioritizes data protection with dynamic watermarking, screen shields and a robust profile of the user.
Another important factor is the accessibility to all authorized users. You must choose a provider who is reliable and has 24/7 accessibility. It can be integrated with your existing systems. A top online data room provider should also have an easy-to-use and well-organized interface. It will also have an intuitive search function, a centralized index and secure folders to share and download data.