Data room software is a digital platform that helps facilitate business transactions. Be it for M&A, fundraising or due diligence, it permits authorized parties to exchange documents securely in a secure setting. It makes complex processes easier and maximizes the impact of transactions.
The best data rooms support different file formats and can be accessed via various devices, including mobile phones. They can be tailored according to the needs of your project and allow for granular permissions. Additionally, they can automatically convert uploaded files into secure PDF format for viewing and printing with no need to download plugins. They also have intelligent search which reveals just one portion of the document to make searches faster and improve security.
To streamline due diligence, data rooms can automatically organize and index documents according to type of file as well as by date and other attributes. This will enable users to quickly locate the information they require, and it also makes it easier for auditors and analysts to analyze the outcomes of a transaction.
With robust tools for document security you can ensure conformance to industry standards such as ISO 27001 and GCP. This includes features such as password security, granular access controls, and audit trails. Additionally, it is important for the data room to provide multi-device support, built-in chat and video call functionality as well as the ability to integrate with other tools such as CRMs and ERPs.
Intralinks is highly rated by Capterra and is trusted by DuPont and Starbucks, as well as L’Oreal and L’Oreal. It provides an advanced platform which combines traditional VDR with artificial intelligence and automation for cross-project analytics. It also provides two-step process for user identification verification, and it encrypts uploaded files upon download and then opening. Besides, it can automatically add watermarks containing the user’s name along with the IP address and time of access to the document.