Data room providers provide firms, interest groups and corporations with an online platform that is secure to share, upload with, track and distribute information. This facilitates the process of creating and maintaining business partnerships, including mergers acquisitions, joint ventures, as well as streamlining procedures and transactions that rely on the efficiency of document sharing.

The variety of features offered by each vendor differs, but most data rooms have a few common ones. It is crucial to have access to the past records quickly when making deals or looking at performance. Customizing user permissions can also help improve the management. Many service providers offer reports on activity that show who accessed documents, how long they were viewed and by who. This can help users monitor security and activity.

One of the most used virtual data room providers is Firmex the service has been in operation for 12 years and has helped more than 100,000 projects that range from financial transactions to M&A. Firmex is renowned for its security features which provides detailed permissions for users, groups and documents, as well as dynamic watermarking, which helps to prevent any unauthorized distribution and the capability to block access to documents remotely even when they’ve been saved or printed.

Brainloop is another well-known data room provider. It provides an intuitive, flexible interface. Users can collaborate with peers in real-time and work on documents with the tools for collaboration offered by the application. It offers a variety of options for customization, including the possibility to personalize the platform’s look and feel by using avatars, images and brand colors. The tool is also ISO27001 certified and comes with on-click NDAs for top-level security.

secure data room for a healthy working environment