A digital data room is a secure online location where businesses can store and share confidential documents. They are commonly used in the M&A process and are intended to facilitate collaboration, speed due diligence and increase visibility into documents. Digital data rooms have become commonplace in the business world in large part because they’re much more secure than traditional file sharing tools and can be setup in minutes.
iDeals, one of the top-rated VDR, is known for its security. It is certified by ISO 27081. ISO 27081 certification, multiple layers of protection including physical information, application and data management, and is ISO 27081 certified. The platform has a central repository that is customizable in tagging as well as folder structure auto-indexing, two factor authentication with 256-bit encryption, digital watermarks, and an advanced search function that outperforms traditional file-based searching. It comes with a variety of support services such as consulting, training and 24/7 customer support.
CapLinked is another virtual data room that is highly rated. It is designed to simplify secure documents sharing and collaboration. CapLinked comes with a variety of specific features that are designed to aid in the M&A process, such as an adjustable virtual data room layout and a one-click NDA and e-signature function as well as advanced reporting. It also comes with a device-agnostic syncing option, 24×7 assistance and a variety APIs.
ContractZen, cloud-based VDR, combines ease of use with top-of-the-line security to simplify M&A and process management. The platform features a streamlined interface with intelligent insights and search functions that can be tailored to specific users. It also has group discussion timelines, which improve workflow control. It supports a variety of file formats, and offers unlimited storage. It is also simple to integrate into workflows.