Various industries use online data rooms for different purposes. Certain require more advanced features than others. Specific tools are required by those who deal with sensitive and confidential information. These companies may also benefit from having an interface that can be multilingual and the ability to work on documents without a desktop application.
Legal firms, banks, and other financial institutions, for example, have many confidential documents that they need to share. They can benefit from a virtual data room solution that has the ability to secure information by varying layers of security. It also allows them to access files round-the-clock. This helps them streamline due diligence and complete M&A deals faster.
The best virtual data rooms are backed with top-quality security certifications. They also offer advanced features that traditional physical data rooms can’t. For instance, they can redact vital areas of files so that personally-identifiable information stays private or prevent screenshotting with a fence view. They can also offer features that make it easy to organize and move documents, including drag-and-drop file uploading, or high quality previews of over 30 types of files. Some even have a central activity log to improve transparency and accountability of the team.
Brainloop Secure Documentroom is among the best data rooms on the market. It’s a VDR that is ideal for M&A, due diligence and project management. It is a cloud-based and end-to-end encrypted platform that lets you work on a single file or multiple ones with ease. Its unique blob-storage technology and AI powered indexing make it one of the fastest digital data rooms on the market. Moreover, its customizable watermarks and audit logs guarantee 100% compliance with legal requirements.