Like the name suggests, the software designed for data rooms is intended to protect confidential documents that are that are required in business transactions. Information is usually valuable and requires to be protected from rivals. To this end, the best providers in this category provide features like multi-factor authentication, granular user permissions and advanced IRM to guard the information from unauthorized access. They also offer features like managing mobile devices and impersonating security for the user and activity tracking to track users.

The most effective virtual datarooms are designed to support critical business processes and are optimized for various platforms and devices, such as desktops and tablets. They also facilitate seamless integrations with other applications such as email and chat. They are available in cloud, on premises and hybrid deployment models for various workflows. The software is simple to install and designed to simplify processes and is suitable for mid-sized and small-sized businesses who need both functionality and simplicity.

Some of the top-rated data rooms are Intralinks Virtual Data Room, iDeals Solutions and Datasite. They provide a range of critical business capabilities that are appropriate for M&A as well as capital market transactions as well as due diligence and other important transaction processes. Intralinks helps dealmaking efficiency with digital platforms that offer high-risk storage, file level security and centralized administration controls, and easy access via a robust IRM. It comes with a multilingual 24/7 support line, preconfigured solution templates, as well as an intralinks creator to accelerate the start of projects and implementation of best practices.