Secure data rooms are essential for businesses involved in M&A, or other sensitive business processes. They safeguard confidential documents by stopping them from being read by unauthorized third parties. 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 support your M&A processes, from due diligence through to closing the deal.
Some VDRs are focused on specific industries. For example, iDeals is widely used by life sciences companies and M&A advisors for due diligence. CapLinked is also a good alternative for real estate transactions, fundraising and asset sales.
When comparing the top secure data rooms, be sure to look for features that allow you to monitor who is using your documents and how often. Some providers of data rooms protect documents from watermarking as well as block downloads and disallow screen shots to minimize the risk of unauthorized use. They also provide security timeouts and granular settings for users to enhance security for data. Digify, for example will prioritize data security with dynamic watermarking, screen shield and a comprehensive user profile.
Another crucial element is the accessibility to all authorized users. You must choose a reliable company that provides round-the-clock accessibility and is compatible with your current systems. Additionally, a top online data room service has a streamlined and user-friendly interface. It will also include an intuitive search feature, a central index and secure folders to share and download data.
