Data room software is a digital platform that helps facilitate business transactions. It can be used for M&A, fundraising or due diligence, it allows authorized parties to exchange documents securely in a fortified environment. It also simplifies complex procedures and enhances the outcomes of crucial transactions.
The best data room can support multiple file formats and can be accessed by a variety devices including mobile phones. They can be configured to grant granular access and can be tailored to meet the needs of your project. They can also convert uploaded files to an encrypted PDF for viewing and printing without the need to download any plugins. They also have an intelligent search, which only displays tiny portions of the document to speed up searches and increase security.
To simplify due diligence, data rooms can automatically organize and index files according to file type as well as by date and other attributes. This will enable users to quickly locate the information, and auditors will be able to analyze the results more quickly.
Be sure to comply with various industry standards like ISO 27001, GCP and HIPAA with robust security tools for documents. This includes features such as password protection, granular access controls and audit trails. It is also crucial that a data room offers multi-device compatibility, built-in chat, video calls, and the ability for integration with other solutions such as CRMs or ERPs.
Highly reviewed by Capterra and backed by DuPont, Starbucks and L’Oreal, Intralinks offers an advanced platform that incorporates traditional VDR features with artificial intelligence and automation tools for cross-project analysis and activity tracking. It also offers two-step authentication of the user and also encrypts uploaded files upon download and open. Additionally, it can add watermarks to documents with the user’s name along with the IP address and date of access to the document.
