If you’re in search of an online data room to enhance your M&A process or speed up due diligence, the top virtual data room software should have a wide range of features. Look for an easy-to-use platform that doesn’t have a long learning curve and works on any operating system or device. It should offer 24/7 customer support and be readily available when you require it.
Datarooms should include a drag and drop feature that allows uploading massive files and create an index with one click. They should also be equipped with advanced search capabilities. They should have search tags, labels, filters and optical character recognition tools to allow full-text search across all documents. They should also be able to combine files to create a single PDF file.
The ideal virtual dataroom provider should provide granular security features to protect sensitive data from prying eyes. iDeals Citrix Datasite excel in this space with multi-factor authentication, a customised deal workflow as well as mobile device control and granular permissions.
Datarooms at iDeals allow administrators to invite users in bulk, configure security options for sign-in and assign access rights, including the possibility to download and view secure PDFs as well as print. Administrators can manage the rights of users, and monitor changes with detailed audit logs. Additionally, they can create colored reports of top activity to gain a comprehensive snapshot of group activity. These reports show the number and type of users as well as the type and number of documents that are accessed and authorized, and the number and types of Q&A questions.