Data room providers provide firms, interest groups and corporations with an online platform that is secure to share, upload information, track, and distribute information. This makes it easier to streamline the process of creating and maintaining business partnerships, such as mergers or acquisitions, as well as joint ventures, and simplifying core processes and transactions that are dependent on efficient document sharing.

The range of features offered by different vendors differs however, most data rooms provide common ones. It is essential to have access to prior records at a moment’s notice when referencing deals or looking at performance. Modifying user permissions can also enhance the governance. Many service providers offer reports on activity that reveal who accessed documents, the length of time they were viewed and by who. This helps users monitor security and activity.

Firmex is among the most well-known virtual data room providers. It has been operating since 2012 and has assisted more than 100,000 projects that range from M&A to financial transactions. The service is known for its security-focused approach. It includes precise user group, document, and user permissions and dynamic watermarking that prevents any unauthorized distribution, as well as the ability to revoke access to documents remotely even if they have been saved or printed.

Brainloop is another popular data room provider. It offers an easy, flexible interface. Users can collaborate with other users in real-time and work on documents with the tools for collaboration of the tool. It offers a variety of options for customization, including the possibility to personalize the user interface with avatars, images, and brand colors. The tool also comes with ISO27001 certification and on-click NDAs for the highest level of security.

secure data room for a healthy working environment